Putting Artificial Intelligence in the Hands of
the Top Broadcasters
Veritone®, Inc. (NASDAQ: VERI), a leading provider of artificial
intelligence (AI) and cognitive solutions, today announced that it
has entered into new multi-market license agreements with leading
broadcasters Beasley Media Group, Reach Media and the Tom Joyner
Network, Townsquare Media, and Results Radio, in addition to
renewing its existing license agreement with Hubbard Radio. These
agreements give the broadcasters a license to the Veritone aiWARE™
platform for their market-leading stations to seamlessly and
automatically process, transform, and review audio data in near
real-time, with enhanced ad and content tracking, comprehensive
analytics, faster content extension, and smarter media
management.
“Veritone puts the AI in radio,” said Drew Horowitz, president
and chief operating officer of Hubbard Radio. “Broadcast audio
continues to stay relevant thanks to its ability to adapt to the
technological changes. But as more listeners consume programs, ads
and organic content, we’re left with mountains of data that require
significant man-hours in order for us to report on audience-based
data. We know that radio has the ability to adjust to meet
consumers and Hubbard Radio is always looking for ways to
capitalize on the versatility of radio. Veritone aiWARE allows us
to deliver value to listeners while simultaneously giving us
insight that helps advertisers and broadcasters.”
According to Statista, radio is the third most powerful medium
in the United States, reaching 54 percent of the country’s
population daily, and is considered the leading reach platform
compared with any other medium, including TV and mobile. The
extensive reach of radio means that advertisers must fight for air
space and radio groups must deliver actionable insights for
advertisers and sponsors as well as internal programming and
business development personnel.
“We now have the ability to utilize differentiated and
previously unavailable sales enhancement tools via the analytics
afforded by the Veritone platform – allowing for data-driven and
value-added discussions with our valued advertising partners,” said
Bob McCurdy, vice president of corporate sales at Beasley Media
Group. “Veritone aiWARE is exactly where we need to be going as a
company to provide the kind of data and accountability that
advertisers rightfully expect.”
“The evolution of broadcast media – from strictly radio-based,
to video, to online and now to podcast format - proves it will
continue to be a dominant platform, said Ryan Steelberg, president
and co-founder of Veritone. “We will continue to see this market
change as the public demands new ways to consume media content.
This increasing complexity is making it both more critical and more
challenging for broadcasting groups and advertisers to evaluate and
measure the impact radio has on customers. They will have to deploy
tools to help track and extend their broadcast distribution, unlock
audience-based data and insights, and measure listener sentiment
and the effectiveness of advertising campaigns. Deploying AI can
give advertisers and radio groups the insight they need, and
Veritone ensures that our partners are at the forefront of trends
and interactivity with broadcasters.”
Major broadcasting groups and hundreds of their stations use
Veritone aiWARE to cognitively process radio programming at scale
– 24 hours a day, 365 days a year. The new agreements
announced today, together with Veritone’s recently announced
agreement with Entercom, and its extensive relationships with radio
powerhouses including ESPN, iHeartMedia, and Westwood One,
translate into added value for these broadcasters and their
advertisers alike, across audiences totalling in the hundreds of
millions.
For more information on the future of AI for media and
entertainment, visit Veritone.
About Veritone
Veritone (NASDAQ: VERI) is a leading artificial intelligence
company that has developed aiWARE, an AWS-certified platform
offering orchestrated, cognitive computing to transform and analyze
structured and unstructured data for clients in a variety of
markets, including media and entertainment, legal, compliance and
government. The open platform integrates an ecosystem of cognitive
engines, which can be orchestrated together, and a suite of
proprietary applications, to reveal unprecedented, multivariate
insights from linear files such as radio and TV broadcasts,
surveillance footage and public and private content globally.
Veritone is the presenting sponsor of the Artificial Intelligence
Marketplace at CES 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.
About Hubbard Radio
Hubbard Radio was created as a subsidiary of Hubbard
Broadcasting, Inc. and is a Minneapolis - St. Paul, Minnesota
family-owned and -operated radio broadcasting entity with 43
stations located in Minnesota, Illinois, Missouri, Ohio, Arizona,
Washington, and Washington DC; the Hubbard Radio Network, a
regional radio network; and 2060 Digital, a full service digital
company.
About Beasley Media Group
Beasley Media Group, Inc. is a subsidiary of Beasley Broadcast
Group, Inc., which owns and operates 63 stations (45 FM and 18 AM)
in 15 large and mid-size markets in the United States.
Approximately 19 million consumers listen to Beasley radio stations
weekly over-the-air, online, on smartphones and tablets and engage
with the Company’s brands and personalities through digital
platforms such as Facebook, Twitter, text, apps and email. For
additional information, please visit www.bbgi.com.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the use of the Veritone
aiWARE platform by Beasley Media Group, Hubbard Radio, Reach Media
and the Tom Joyner Network, Townsquare Media, Results Radio and
other Veritone customers and the expected benefits. 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180307005335/en/
BLASTmedia for Veritone, Inc.Meghan Matheny, 317-806-1900 ext.
115meghan_matheny@Blastmedia.com
Veritone (NASDAQ:VERI)
Historical Stock Chart
From Feb 2024 to Mar 2024
Veritone (NASDAQ:VERI)
Historical Stock Chart
From Mar 2023 to Mar 2024