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SAN CLEMENTE, Calif., Aug. 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- 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 completion of the critical software integration process at the heart of the Company’s strategic partnership agreement (the “Partnership”) with RYDE Holding (“RYDE”), the creator and operator of the KODAKOne Image Rights Management Platform. This is a significant technical accomplishment, enabling the companies to now engage in actively monetizing the scope of their Partnership through aggressive operational implementation of the new unified software 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 Q4 2019.
Matthew Goldmann, CEO Image Protect noted, “Through KODAKOne’s global post-licensing service, we now extend our own service offer to our clients by additionally recovering licenses from new markets such as Europe and SE Asia. The smooth integration process we have seen thus far bodes extremely well for our outlook as partners, providing an opportunity to generate and share untapped image infringement claims. This benefits both of us, driving significant additional revenues, which hold the potential to enable more aggressive scaling across segments.”
This earlier-than-expected successful integration of the base systems forming the Partnership has allowed the companies to test their new unified platform on actual client data. Management reports that the testing has been an unqualified success, with all endpoints topping expectations. The systems are now successfully synchronized and integrated, allowing for image uploads, potential infringement identification, and aggressive recovery action to commence.
The process of notification and identification for recovery and infringement has already begun, and both companies are now in the process of on-boarding remaining international infringements, as specified in the Partnership Agreement.
Mr. Goldman continued, “The big idea here is simple: Our License Recovery Unit is pairing up with RYDE’s KODAKOne platform, creating an overlap that allows KODAKOne’s resources to target thousands of new copyright infringement cases and numerous new digital rightsholder clients. We see this integration as a game-changer giving rise to the new market leader in digital image rights protection right smack in the middle of a boom in that space.”
The Company notes that the overall cloud-based digital rights management space is projected to grow from $491.5 million in 2016 to just over $2.5 billion by 2025, according to a ResearchNReports study.
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.