Image Protect Partners with KODAKOne in Deal Expected to Generate Over $5M in Digital Image Rights Revenues
SAN CLEMENTE, CA -- June 19, 2019 -- InvestorsHub NewsWire -- Image Protect Inc. (OTC: IMTL) (imageprotect.com) ("Image Protect", "IMTL", or the "Company"), a global leader in the end-to-end copyright infringement sector, is excited to announce the formation and signing of a strategic partnership agreement (the "Partnership") with RYDE Holding ("RYDE"), the creator and operator of the KODAKOne Image Rights Management Platform.
The two companies believe the Partnership will generate over $5 million in digital image copyright infringement claims and drive tangible revenue growth starting in calendar Q3 2019.
Matthew Goldmann, CEO Image Protect noted, "Through KODAKOne's global post-licensing service we now extend our service offer to our clients by additionally recovering licenses from new markets such as Europe and SE Asia. This integration provides an opportunity to generate and share untapped image infringement claims that will benefit both companies by generating significant additional revenues. This will enable Image Protect to continue to scale at unprecedented rates."
The partnership will integrate Image Protect's License Recovery Unit with RYDE Holding's KODAKOne platform, creating an overlap that will bring the KODAKOne platform to bear on thousands of new copyright infringement cases and numerous new digital rightsholder clients.
The two companies believe that this integration will position the Partnership in a market-leading role in the digital image rights protection space as the overall cloud-based digital rights management market continues to grow from $491.5 million in 2016 to just over $2.5 billion by 2025 (according to a ResearchNReports study).
RYDE CEO, Jan Denecke, said, "We are very excited about our partnership with Image Protect. Together, we will continue to help protect digital storytellers worldwide. Additional cases provided by Image Protect ultimately compliment and fortify our presence in North America, Europe and SE Asia."
The Partnership will be implemented over the coming quarter, with infringement identification, settlements, and revenues targeted to commence immediately.
About Image Protect
Image Protect protects and monetizes creative works. By uniting technology with a team of copyright experts, we ensure that content providers preserve the value of their digital assets. Our web application monitors the global Internet to seek and collect evidence for illegally used visual content. Then our legal partners across North America, Europe, and Asia ensure our clients receive appropriate compensation for work used without valid license.
Safe Harbor Provision
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
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