Veritone® Announces AI-Powered Media Attribution Solution for Broadcasters to Demonstrate Advertising Efficacy & Drive Custo...
September 25 2018 - 8:00AM
Business Wire
Veritone Attribute™ Enables Local &
National Broadcasters to Offer Advertisers Near Real-Time
Advertising Performance Analytics on Their Native and Pre-recorded
Advertising Campaigns
Veritone Inc. (NASDAQ: VERI), the creator of the world’s first
operating system for artificial intelligence, aiWARE™, today
announced Veritone Attribute -- an AI-powered media attribution
application that tracks the efficacy of advertising in broadcast
radio and television. The technology, which delivers customer
behavior impact analytics from pre-recorded, native, and organic
mentions, enables broadcasters to systematically verify and analyze
the effect of the customers’ advertising placements in near
real-time. Veritone’s new intelligent media attribution solution
empowers broadcaster sales representatives and campaign managers to
demonstrate an advertiser’s campaign effectiveness and reveal
data-driven insights for optimization of ad placements to drive
greater customer return on investment (ROI), helping to drive
increases in customer advertising spending.
According to one survey of marketing professionals, the
attribution goal of highest priority for marketers was optimization
of marketing program spend across media channels, but a majority of
the respondents stated that technology limitations restrict their
ability to carry out attribution properly1. For media broadcasters
whose business models rely primarily on advertising, this lack of
empirical evidence makes it difficult to lure customer advertising
budgets away from digital channels that provide data-rich,
real-time attribution. What’s more, increasingly popular native
advertisements are not captured in programming logs, requiring
manual verification of ad delivery, and further extending reporting
times. Put simply, today’s manual ad verification workflows are
often painfully slow and attribution analysis incomplete. By the
time broadcasters are able to report on ad placements and their
customers attempt to manually correlate online transactions,
campaigns have often already run their course before the ad
placements can be optimized. In the end, advertisers are left with
incomplete broadcast attribution data, making it difficult for
broadcasters to demonstrate the value of advertising campaigns
during contract negotiations in order to keep and increase the ad
spend of their customers.
Veritone Attribute equips broadcasters and their advertising
customers with tools to make informed cause and effect connections
between any reference to an advertiser during a broadcast, such as
a pre-produced spot, a live read, or an organic mention, and the
desired target audience’s actions taken on the advertiser’s
website. Through the intelligent correlation of a broadcaster’s
programming and an advertiser’s Google Analytics website data,
Veritone Attribute helps broadcasters advise customers throughout
their campaigns in near real-time of how their ad dollars are best
leveraged to accelerate the target audience’s path to purchase.
Advertisers gain assurance in their broadcast advertising
investments through a data-driven feedback loop that identifies
areas of optimization across ad placements, dayparts, and ad
creatives to drive the greatest ROI.
“Veritone Attribute is a quantum leap forward in the analysis of
broadcast advertising efficacy. Until now, there was no scalable
technology with industry-wide application capable of capturing
offline consumer response to broadcast mentions,” said Ryan
Steelberg, President of Veritone. “With Veritone Attribute, we
elevate broadcast media measurement to new levels of precision and
provide a path to custom attribution modeling. The technology will
have a major impact for broadcasters by generating rapid,
comprehensive performance and optimization reports that
broadcasters and advertisers can use for directional guidance in
their radio and TV advertising decisions. In the future, we look
forward to extending Veritone Attribute’s capabilities to support
podcast programming and include additional attribution channels
such as first party transaction data.”
Veritone Attribute was developed from the extensive experience
Veritone has gained managing media placement and attribution model
development for many of broadcast’s largest advertisers. The
application can be deployed in public, private, or hybrid cloud
environments configurable to meet customers’ infrastructure and
security requirements.
Visitors can see a demo of the Veritone Attribute solution at
the 2018 Radio Show in Orlando, Florida, September 25th - 28th in
Booth 86 and learn firsthand from leading radio broadcasters the
impact AI can have on their business at the Veritone moderated,
Putting the AI in rAdIo panel during the event. Veritone Attribute
will be generally available beginning in the fourth quarter of
2018.
About Veritone Attribute
Veritone Attribute systematically verifies advertisements and
mentions in broadcasts and correlates their affect to customer
website traffic and subsequent online product or service purchases.
Correlated information is displayed in a near real-time media
attribution dashboard, empowering broadcasters to prove advertising
efficacy to customers.
Key capabilities and benefits of Veritone Attribute include:
- Systematic ad verification --
Automatically verify pre-recorded spots with playout log and audio
fingerprint monitoring as well as live reads through natural
language processing (NLP)-driven watchlists in near real-time
- Prove ad efficacy -- Measure online
response to customer advertising campaigns with intelligent
correlation of the advertiser’s Google Analytics website data and
broadcaster playout logs
- Measure organic response -- Create
watchlists to automatically monitor broadcasts for organic customer
brand or product mentions, then measure their impact
- Simple customer reporting --
Programmatically develop customer radio attribution reports with a
near real-time advertising analytics dashboard organizable by
advertiser or campaign view
- Optimize ad placement -- Leverage
programmatic campaign response data to empower customers to A/B
test ads, optimizing creative, messaging, placement, duration, and
daypart to drive greater customer ROI
About Veritone
Veritone (NASDAQ: VERI) has created the world’s first operating
system for artificial intelligence. Veritone’s aiWARE operating
system leverages the power of cognitive computing to transform and
analyze audio, video and other data sources in an automated manner
to generate actionable insights. The Veritone platform provides
customers ease, speed and accuracy at low cost. Veritone has been
among the first to be recognized by AWS for Machine Learning
Expertise, and has been recognized by Oracle for Excellence in
Application Development. To learn more, visit Veritone.com and
interact with us on Twitter and LinkedIn.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the expected availability
date for the Veritone Attribute application, potential future
customer use cases for the Veritone Attribute application
capabilities in the media and entertainment markets, the expected
benefits to customers, and the Company’s ability to extend the
capabilities of the Veritone Attribute application to additional
datasets. Without limiting the generality of the foregoing, words
such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,”
“could,” “estimate” or “continue” or the negative or other
variations thereof or comparable terminology are intended to
identify forward-looking statements. In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances are forward-looking statements.
Assumptions relating to the foregoing involve judgments and risks
with respect to various matters which are difficult or impossible
to predict accurately and many of which are beyond the control of
Veritone. Certain of such judgments and risks are discussed in
Veritone’s SEC filings. Although Veritone believes that the
assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could prove inaccurate and,
therefore, there can be no assurance that the results contemplated
in forward-looking statements will be realized. In light of the
significant uncertainties inherent in the forward-looking
information included herein, the inclusion of such information
should not be regarded as a representation by Veritone or any other
person that their objectives or plans will be achieved. Veritone
undertakes no obligation to revise the forward-looking statements
contained herein to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
______
1. AdRoll Group “State of Marketing Attribution 2017”
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version on businesswire.com: https://www.businesswire.com/news/home/20180925005218/en/
Veritone Public Relations Contact:RAISE
CommunicationsCari Sommer, 646.480.6783cari@raisecg.com
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