Veritone Continues International Expansion Through Agreement with Peru’s CRP Radios
February 09 2021 - 7:30AM
Business Wire
Commercial radio group will leverage AI-enabled
Veritone Attribute to bolster better insights into its advertising
campaigns
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first
operating system for artificial intelligence, aiWARE™, today
announced a new agreement with Lima, Peru-based commercial radio
group, CRP Radios. The deal marks a significant milestone in
Veritone’s global market expansion by broadening its reach in the
South American region.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210209005312/en/
Veritone's agreement with Peru's CRP
Radios continues the company's international expansion. (Photo:
Business Wire)
The agreement allows CRP Radios to leverage Veritone Attribute,
a leading AI-enabled broadcast attribution application, giving the
group greater insight into ad performance across its eight radio
stations. Through the use of Veritone Attribute, CRP Radios will
also be able to show the efficacy of the campaign, inform ad
optimization strategies and maximize return on investment for
advertisers. In three local campaigns tested with Attribute, the
radio group demonstrated advertising across their stations
accounted for nearly a 12% average lift in website visits for
advertisers.
“We needed a tool that had intuitive features and support, and
after evaluating Veritone Attribute, we knew the application would
give us just that, and more,” said Abraham Zavala Cochano, General
Manager at CRP Radios. “Attribute allows us to demonstrate lift in
website visits from ads aired across our stations in a way we have
never been able to accomplish, which has been an invaluable asset
to our advertising partners and allowed us to showcase real-time
analytics to better measure campaign effectiveness.”
Radio ad spend in Latin America is projected to grow to $1.28
billion U.S. dollars this year. The adoption and deployment of
Veritone’s AI-enabled solution positions CRP Radios as a leader in
the South American broadcasting industry by providing capabilities
to make it easier and more intuitive to deliver actionable insights
across radio advertising campaigns. Not only will this help CRP
Radios drive more ad revenue, it also creates greater satisfaction
with their customers by providing ad performance data so they can
adjust strategy in near-real-time.
“As we continue to build our global footprint, we’re excited to
work with CRP Radios to bring AI-enabled content and ad
intelligence to its advertisers,” said Paul Cramer, Managing
Director, Broadcast Solutions at Veritone. “Veritone has become the
industry standard for broadcast ad intelligence, utilized by nearly
1,500 stations in six countries. This deal allows us to chart the
course in the South American market and bring Peruvians added value
to their ad campaigns.”
A leading AI-enabled broadcast attribution application, Veritone
Attribute correlates broadcast advertising placements of all
formats –– including pre-produced spots, organic mentions and live
reads –– with website interaction data in near real-time.
For more information on Veritone Attribute, please visit:
https://www.veritone.com/applications/attribute/. To learn more
about CPR Radios, please visit: http://crpweb.pe/.
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial
intelligence (AI) technology and solutions. The company’s
proprietary operating system, aiWARE™, powers a diverse set of AI
applications and intelligent process automation solutions that are
transforming both commercial and government organizations. aiWARE
orchestrates an expanding ecosystem of machine learning models to
transform audio, video, and other data sources into actionable
intelligence. The company’s AI developer tools enable its customers
and partners to easily develop and deploy custom applications that
leverage the power of AI to dramatically improve operational
efficiency and unlock untapped opportunities. Veritone is
headquartered in Costa Mesa, California, and has offices in Denver,
London, New York and San Diego. To learn more, visit
Veritone.com.
About CRP Media
CRP Radios (CRP Medios y Entretenimiento S.A.C) is a leading
radio broadcaster in Perú. It operates music stations targeted to
different segments in Lima and more than 30 cities in Perú. Its
stations have a wide reach and the company has the largest audience
share of any radio broadcaster in the country. It also generates
+11MM monthly streaming sessions.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the Veritone Attribute
application and its expected benefits to CRP Radios and its
advertisers. 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: https://www.businesswire.com/news/home/20210209005312/en/
Allison Zullo Walker Sands, for Veritone
veritone@walkersands.com 330-554-5965
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