Veritone and Entercom Announce Agreement to Maximize Broadcaster’s Distribution and Reach with Artificial Intelligence
February 08 2018 - 9:00AM
Business Wire
Entercom to Leverage Veritone Platform for
Content-Based Data and Insights
Veritone®, Inc. (NASDAQ: VERI), a leading provider of artificial
intelligence (AI) and cognitive solutions, today announced that
Entercom, a leading American media and entertainment company and
one of the two largest radio broadcasters in the U.S., has selected
Veritone as a premier technology partner. This new license
agreement brings Veritone’s powerful aiWARE platform to Entercom’s
robust portfolio of over 235 highly-rated radio stations coast to
coast.
According to PwC and Ovum, U.S. radio advertising revenue will
total more than $24 billion by 2021. With so much at stake, radio
groups, advertisers and marketers require the ability to conduct ad
verification and tracking, measurements, reach, tone, analytics and
effectiveness. Veritone offers a 360-degree view, giving
advertisers and radio groups complete visibility to in-program
content, live content and commercial breaks.
“The future of this market is clear: listeners will continue to
consume audio, in terms of radio, podcasts and the like, but how
they consume it will change,” said Ryan Steelberg, president of
Veritone. “AI is starting to play a role in how users interact with
audio. For example, AI can evaluate how users are engaging and
listening, and can apply predictive analytics to construct
playlists based on the user’s preference. The Veritone platform can
help advertisers, radio groups and others to not only deliver what
their customers want, but also to stay ahead of the curve as the
consumption of audio changes. We help our partners be at the
forefront of trends such as interactivity with broadcast and media,
content personalization and more.”
“The market for radio broadcast is evolving rapidly, and
continued and major growth is expected,” said Bob Philips, chief
revenue officer at Entercom. “We’re excited to begin delivering new
value to our listeners and partners, and focusing our efforts on
new projects that drive us forward as the industry leader.”
“Not only is broadcast audio continuing to grow and reach all
generations, but sports broadcast specifically has developed and
modernized to meet the needs of fans,” said Mike Dee, president of
Entercom Sports. “Entercom is always looking to innovate, and
artificial intelligence has proven itself as the next step in
enterprise technology.” Dee’s previous leadership as president and
chief executive officer of the San Diego Padres, Miami Dolphins and
Sun Life Stadium gives him a critical and much needed perspective
for sports business enterprise, as well as the constant revenue
development they depend on.
aiWARE delivers actionable insights from previously unstructured
data, as well as industry-critical capabilities such as indexing
for search and discovery. This is accomplished via verifying,
monitoring and repurposing aired content, not just pre-produced
spots, but also live streams. Major sports broadcasters and
organizations Veritone to maximize their audience reach, fan
affinity, and ultimately, sponsorship revenue. With Veritone, users
can verify campaign delivery, reaffirm sponsorship value with
shareable analytics, and monitor in-game detection of speech,
sentiment and more.
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 Entercom
Entercom Communications Corp. (NYSE: ETM) is a leading American
media and entertainment company reaching and engaging over 100
million people each week through its premier collection of highly
rated, award winning radio stations, digital platforms and live
events. As one of the country’s two largest radio broadcasters,
Entercom offers integrated marketing solutions and delivers the
power of local connection on a national scale with coverage of
close to 90% of persons 12+ in the top 50 markets. Entercom is the
#1 creator of live, original, local audio content and the nation’s
unrivaled leader in news and sports radio. Learn more about
Philadelphia-based Entercom at www.Entercom.com, Facebook and
Twitter (@Entercom).
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the projected size of the
radio advertising market in the United States, the expectations of
the Company and Entercom regarding how the consumption of audio
content will change, the use of the Veritone aiWARE platform by
Entercom and other customers in the media and entertainment market,
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/20180208005304/en/
BLASTmedia for Veritone, Inc.Meghan Matheny, 317.806.1900 ext.
115meghan_matheny@Blastmedia.com
Veritone (NASDAQ:VERI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Veritone (NASDAQ:VERI)
Historical Stock Chart
From Apr 2023 to Apr 2024