Big Sofa Tech becomes approved partner to US consumer goods firm

The AIM-traded firm said that, following an “extensive” procurement procedure, Big Sofa was now an approved supplier on the client's global technology and research rosters, undertaking projects for the client to facilitate the acquisition and analysis of both new and existing video content.

Previously, the client had commissioned a number of projects through an approved agency, but the level of demand for Big Sofa's services across the client's global business reached a level which meant the client wanted to commission multiple projects directly with Big Sofa, the board reported.

The partnership was said to be already contributing material income to the company.

Big Sofa’s board said the client, which owns some of the world's “best known brands” within the major consumer categories of health care, household and beauty products, was increasingly incorporating video observation techniques into its consumer insight activities to better understand actual human behaviour.

By capturing natural human behaviour in the home - including through the use of live streaming - and utilising Big Sofa's sophisticated video analysis technology, the client was able to interpret and analyse real behaviour to a depth apparently not previously possible in the consumer insight industry.

“This agreement is a significant endorsement of our video analytics technology and highlights the global reach of Big Sofa as our platform is now available to any of the client's departments anywhere in the world,” said chief executive Simon Lidington.

“The business we are already generating from this partnership is further evidence of the pent-up demand from brands or their research agencies for video analytics which unlock the true value of video-based consumer research.”

Lidington said he was “very excited” by the momentum being generated in the business.

“This Global Systems Partnership status follows the Global Licence Agreement with leading market research agency, Ipsos, just two months ago which is also beginning to contribute significantly to revenues with projects being undertaken for blue chip international clients.”