Versus Systems Inc. (NASDAQ:VS, CSE:VS) made meaningful progress in increasing its total partnerships and boosting its average contract value in the first quarter, according to a corporate update released Monday.
In recent weeks, Versus Systems entered into a strategic partnership with experiential marketing agency Red Moon, collaborated with branded entertainment agency ENT Marketing and partnered with Tokyo-based marketing agency Diplomat Sports & Entertainment Inc, among other deals.
The goal is to grow the company’s XEO platform, which is designed to make live events, games, shows and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements and other win conditions to existing entertainment, whether in-venue or online, making the content more contextual, personal, and rewarding.
READ: Versus Systems enters strategic partnership with Red Moon Marketing
“Versus Systems made solid progress in the first quarter towards meeting its strategic objectives,” CEO Matthew Pierce said in a statement. “Our goals remain to increase the number of partners that we are working with, to drive up the average contract value, to add more advertising relationships, and to move into new verticals in addition to the in-venue sports success that represents the lion’s share of our work today.”
Sports are of particular interest for Versus, Pierce said.
“The growing number of sports partners and advertisers is something we’re very proud of, and we’re looking to build upon that success in Q2 and beyond, expanding the adoption of our powerful XEO platform to new partners and new verticals,” he added.
For example, the deal with Diplomat Sports & Entertainment brought the XEO platform to Japanese Baseball for the 2022 season. The company also powered fan engagement at San Antonio Stock Show and Rodeo for the fourth consecutive year.
That said, Pierce has visions for XEO outside sports.
“Entering into strategic partnerships with experiential marketing agencies Red Moon Marketing and ENT Marketing enables us to expand the use of XEO in innovative, engaging ways,” the CEO said. “Our first activation with a quick-service restaurant, in collaboration with ENT, was a huge success, and we anticipate bringing XEO to the consumer-packaged goods, retailers, and spirits verticals in the next year through our partnership with Red Moon.”
He continued: “We also continue to support activations for our strong base of sports partners, most recently working with teams in the MLB, NHL, and Japanese Baseball. Increased audience engagement, powered by our leading XEO platform, benefits brands, creators, and consumers."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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