MediaValet Inc. announced a $120,000 expansion under the master services agreement with one of its largest customers and one of the leading media and entertainment companies. This is the Customer's fourth expansion of the Company's services since choosing MediaValet in 2019; more than doubling its original annual recurring license for services to $774,000, effective with its December 31, 2021 renewal. The original vision of the Customer was to implement a DAM capable of centralizing all of the organization's digital media in a highly secure, redundant and accessible global platform.

This was a shift from the Customer's previous approach of decentralized and siloed management of their assets. The Customer expected this shift to increase efficiency, reduce operating costs and infrastructure complexity, and increase the reach and ROI of their assets.