YPB Signs Contract with Major Beijing Museum
Sydney, Aug 17, 2016 AEST (ABN Newswire) - Brand Protection and Customer Engagement solutions company YPB Group Ltd (
ASX:YPB) has signed a contract with a leading art museum in Beijing to PROTECT it with YPB's anti-counterfeit tracer technology.
- YPB to sell invisible anti-counterfeit tracer technology to newly developed Art Museum in Beijing
YPB's invisible tracer will be applied to the museum's entrance tickets, with YPB's scanner technology being used to authenticate tickets at the point of entrance.
The contract is expected to deliver approximately A$200,000 revenue to YPB in the first year.
The A$100 million newly developed art museum is privately-owned, exhibiting photography and modern artwork by some of China's leading artists. More than 100,000 tickets have been produced for the museum's opening to be held later this month.
This new museum joins more than 4,500 existing museums throughout China which attract more than 720 million visitors per year.
YPB Executive Chairman Mr John Houston said: "This is the second contract with a Chinese museum in the past year, and underlines the potential for similar deals. The entrance ticket business in China is sizeable with more than 3 billion tickets issued annually, and counterfeiting is a significant problem. YPB now has a footprint in this market and we see opportunities with many other potential ticketing customers including sports stadiums, events, museums and public transport providers."
Ticketing in China is a potentially lucrative market for YPB's PROTECT solutions with China's tourist attractions yielding RMB103.79 billion (A$20.34 billion) ticket spend per year and sporting events attracting RMB22 billion (A$4.31 billion) in ticket spend per year, a number that is expected to increase up to 20 times over the next five years.
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