Creative Realities Announces Exclusive Relationship with StairMedia in North America; Earns NBA approval for digital stadium stairs
LOUISVILLE, Ky., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Digital signage leader Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced a two-year exclusive agreement to represent StairMedia – offering LED integrated within stadium stair structures – a specialized product never before deployed in the US.
"When LED debuted as the technology of choice for the ribbon, it forever changed the experience inside the stadium. It is not unusual for a new digital product to launch, but it is rare when a product brings forward a new form factor that can drive an unparalleled impact on game day. We have the capacity to achieve the same cultural impact with this product – starting with the NBA this season,” said Lee Summers, President of Sports and Entertainment at Creative Realities, Inc.
“We have previewed this technology to multiple teams and venue operators in an early launch period. The reception and excitement to the product has been overwhelming with respect to its potential to transform the visual impact, energy, and democratization of fan participation from upper decks down to the floor seating inside the arena, as well as the audience watching from home. And we think it’s just the beginning for new revenue-driving, sponsorship opportunities as such,” furthers Summers.
CRI’s partner StairMedia has a global patent for a technology to place LED panels within the risers of the steps of live sporting venues. The product first launched in Europe in January 2020 with successfully executed deployments for Etihad Stadium, Wembley Stadium, Guadalajara FC and Santos FC in México, and an ACB Spain Basketball team Vasconia. Discussions to launch in the US began in November 2022 with Creative Realities, whose deep connections with a prominent NBA team assisted in navigating an anticipated initial launch of the product for the 2023 season.
“Landing this deal with StairMedia allows us to offer another stunning and strategic placement of digital that is simply breathtaking for fans to experience – and in most cases requires zero cost for the venue, outside of stadium readiness requirements of power and data,” cites Rick Mills, CEO of Creative Realities. “With its powerful ability to garner investment through sponsorship given the products visibility for televised broadcasts, we anticipate this will take stair-activation to new heights,” concludes Mills.
"Creative Realities was the perfect partner to launch our solution in the US and Canadian markets. Their current customer base and connections throughout the Sports and Entertainment vertical market is unrivaled. Their approach to creating digital ecosystems, their ability to assist venues in driving revenue through their software engine, and their media savvy makes them the perfect partner. Our StairMedia product has been very well received in Europe and the Americas and with the help of Creative Realities, we expect the same in the US and Canadian markets," said Francisco J. Ortiz, CEO StairMedia.
About Creative Realities, Inc.
Creative Realities (“CRI”) helps clients use the latest omnichannel technologies to inspire better customer experiences. CRI designs, develops and deploys consumer experiences for high-end enterprise-level networks, and is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to automotive, advertising networks, apparel & accessories, convenience stores, food service/QSR, gaming, theater, and stadium venues.
StairMedia is a Spanish based company that owns a worldwide patent for an innovative system at the technological vanguard of indoor and outdoor advertising for sports venues. StairMedia covers all the continents through commercial partners.
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 CRI’s “Risk Factors” section contained in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2022 and in its Quarterly Report on Form 10-Q for the period ended June 30, 2023, and CRI’s subsequent filings with the U.S. Securities and Exchange Commission. Important factors, among others, that may affect actual results or outcomes include: CRI’s ability to effectively integrate Reflect’s business operations, CRI’s strategy for customer retention, growth, product development, market position, financial results and reserves, CRI’s ability to execute on its business plan, CRI’s ability to retain key personnel, CRI’s ability to remain listed on the Nasdaq Capital Market, CRI’s ability to realize the revenues included in its future guidance and backlog reports, CRI’s ability to satisfy its upcoming debt obligations and other liabilities, CRI’s ability to continue as a going concern, potential litigation, supply chain shortages, and general economic and market conditions impacting demand for its products and services, including those as a result of the COVID-19 pandemic. Readers should not place undue reliance upon any forward-looking statements. CRI assumes 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.