Veritone Expands Presence in Sports Media as Speedway Motorsports Gears Up with Innovative Cognitive Media Platform™
November 16 2016 - 6:00AM
Business Wire
AI Technology Provides Unprecedented Insights
into Sports Media and Sponsorship Analytics
Veritone, Inc., a leading cloud-based Artificial Intelligence
(“AI”) media technology company, pioneering the world’s first
Cognitive Media Platform™ (CMP), announced today that it has
expanded its presence in sports media by signing marquee client
Speedway Motorsports, Inc. (NYSE: TRK). Veritone’s comprehensive
Cognitive Media Platform™ enables sports organizations to analyze
radio and television broadcasts, in near real-time, providing them
with a 360-degree understanding of sponsorship impact and
value.
“Veritone’s first-of-its-kind technology provides sports leaders
like ESPN Radio, Westwood One and our newest partner, Speedway
Motorsports, a unique view into current and prospective
sponsorships by analyzing spoken and visual broadcast integrations
within minutes of airing. This level of media intelligence allows
teams and advertisers to work together more closely to further
their respective brands,” said Ryan Steelberg, President, Veritone
Media.
Powering this platform is Veritone’s innovative AI-based media
processing technology, including automated logo recognition,
transcription and face detection, which now allows teams to better
understand and communicate the holistic value of their sponsorship
packages.
Traditionally, sponsor campaign recap summaries are delayed
weeks, if not months, long after a campaign can be adjusted for
more enhanced targeting and reach. As Veritone’s technology
processes broadcasts in near real-time, teams have access to
sponsorship delivery and efficacy analytics within minutes. With
this, sports organizations can have fast and educated conversations
with their partners to maximize campaign yield.
“Veritone’s media reach allows us to search TV and radio to
understand what trends and topics are being talked about leading up
to and during our events. With this technology, we can show our
sponsors the spike in their brand mentions, both locally and
nationally, leading up to a race,” said Braun Smith, Vice
President, National Sales, Speedway Motorsports.
Today, companies are able to search Veritone’s vast public media
index to find occurrences of their sponsors being talked about in
association with their team or brand. This new technology enables
organizations to show added value and over-delivery to sponsors and
advertisers by finding and sharing mentions from relevant popular
media.
About Veritone
Headquartered in Newport Beach, California, Veritone, Inc. is a
leading cloud-based Artificial Intelligence media technology
company pioneering the world’s first Cognitive Media Platform™
(CMP). The CMP is an ecosystem that enables customers in markets
including media, legal, politics and law enforcement to extract
value from the intelligence embedded in the world’s public and
private audio and video content, which comprises the majority of
all global data produced each year. Founded in 2014, Veritone has
already won several of the industry’s most prestigious awards
including the 2016 Red Herring Top 100 North America Award and the
2016 SIIA Business Technology CODiE Award for Best Native
Advertising Platform or Service. Veritone was founded by serial
entrepreneurs and brothers, Chad and Ryan Steelberg. The duo have a
successful track record in identifying new market opportunities,
creating disruptive technology-based companies and leading them to
successful exits for their stakeholders. To learn more about how
Veritone seeds the cloud, visit www.veritone.com.
About Speedway Motorsports,
Inc.
Speedway Motorsports, Inc. is a leading marketer, promoter and
sponsor of motorsports entertainment in the United States. The
Company, through its subsidiaries, owns and operates the following
premier facilities: Atlanta Motor Speedway, Bristol Motor
Speedway, Charlotte Motor Speedway, Kentucky
Speedway, Las Vegas Motor Speedway, New Hampshire Motor
Speedway, Sonoma Raceway and Texas Motor Speedway.
The Company provides souvenir merchandising services through
its SMI Properties subsidiaries; manufactures and
distributes smaller-scale, modified racing cars and parts through
its U.S. Legend Cars International subsidiary; and
produces and broadcasts syndicated motorsports programming to radio
stations nationwide through its Performance Racing
Network subsidiary. For more information about the company,
please visit the Speedway Motorsports website.
Here is Veritone Media President Ryan Steelberg on how AI is
impacting the media industry:
https://vimeo.com/191730784/c5c6e40a7c.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161116005582/en/
Clearstream AgencyWendy Watson,
310-739-6530wendy@clearstreamagency.com
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