Creative Realities Announces Agreement to Supply and Deploy up to 5,000 Additional Screens for Starlite Media Expansion
April 13 2023 - 9:00AM
Creative Realities, Inc. (“Creative Realities,” “CRI,” or the
“Company”) (NASDAQ: CREX, CREXW), a leading provider of digital
signage and media solutions, today announced a new agreement to
deploy infrastructure solutions for up to 5,000 digital media
assets for the Starlite Media network at large outdoor shopping
centers anchored by big boxes and supermarkets throughout the
United States.
Starlite Media’s existing retail media network
is comprised of over 6,000 media assets at retail locations in the
top 20 Designated Market Areas in the United States. On March 21st,
Starlite Media announced a partnership with Quantela, an urban
infrastructure solution provider, and Digital Alpha, an investor
that will provide the capital required to add more than 5,000 new
digital media assets over the next three years through the
strategic partnership. CRI has been designated as the design,
procurement, and installation provider for strategic partnership
with an initial deployment commitment valued at $2 million to the
CRI and approximately $50 million of additional backlog at full
deployment.
“The promise of on-premise digital media is vast
as advertisers seek impressions on the retail path to purchase,
place of purchase, point of purchase and path to home,” stated Rick
Mills, CEO of Creative Realities. “This is just the beginning.
Combined with the Company’s unparalleled capacity to deploy at
scale for enterprise customers, our technology stack and ad-serving
platform are well positioned to exploit the explosive growth of
place-based Digital-Out-Of-Home networks.” Mr. Mills continued, “As
discussed on our recent earnings call, this is one of a number of
opportunities that CRI has secured to deploy, power and manage DOOH
networks and related media sales.”
About Creative Realities,
Inc.Creative Realities helps clients use place-based
digital media to achieve business objectives such as increased
revenue, enhanced customer experiences, and improved productivity.
The Company designs, develops and deploys digital signage
experiences for enterprise-level networks, and is actively
providing recurring SaaS and support services across diverse
vertical markets, including but not limited to retail, automotive,
digital-out-of-home (DOOH) advertising networks, convenience
stores, foodservice/QSR, gaming, theater, and stadium venues.
Cautionary Note on Forward-Looking
Statements This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995, and includes, among other things, discussions of our
business strategies, product releases, future operations and
capital resources. Words such as "estimates," "projected,"
"expects," "anticipates," "forecasts," "plans," "intends,"
"believes," "seeks," "may," "will," "should," "future," "propose"
and variations of these words or similar expressions (or the
negative versions of such words or expressions) are intended to
identify forward-looking statements. Forward-looking statements are
not guarantees of future performance, conditions or results. They
are based on the opinions, estimates and beliefs of management as
of the date such statements are made, and they are subject to known
and unknown risks, uncertainties, assumptions and other factors,
many of which are outside of our control, that may cause the actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Some of these risks are discussed in
the “Risk Factors” section contained in Item 1A of our Annual
Report on Form 10-K for the year ended December 31, 2022 and the
Company’s subsequent filings with the U.S. Securities and Exchange
Commission. Important factors, among others, that may affect actual
results or outcomes include: our ability to effectively integrate
Reflect’s business operations, our strategy for customer retention,
growth, product development, market position, financial results and
reserves, our ability to execute on our business plan, our ability
to retain key personnel, potential litigation, supply chain
shortages, our ability to regain and maintain compliance with
Nasdaq listing rules, and general economic and market conditions
impacting demand for our products and services, including those as
a result of the COVID-19 pandemic. Readers should not place undue
reliance upon any forward-looking statements. We assume no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
ContactsMedia InquiriesChristina
Daviescdavies@ideagrove.com
Investor Relationsir@cri.comhttps://investors.cri.com
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