*INNOVATION: Veritone, With an AI Platform, Announces Expanded Licensing Agreement
An innovative company that helps advertisers glean insights and campaign performance analytics using AI announced a renewed and expanded multi-market licensing agreement with Beasley Media Group.
Financial terms of the agreement have not been disclosed.
Veritone, with HQ in Costa Mesa, created an operating system for AI, known as the aiWARE platform.
This platform enables Beasley to provide advertisers and brands with almost real-time insights and analytics into their advertising campaigns.
Specifically, the expanded agreement provides Beasley with the ability to provide detailed campaign insights based on actual campaign play-out; quantify earned media as well as over-delivery; and re-purpose on-air content to online content that can be monetized.
The agreement doubles the number of stations using aiWARE to almost 30 across six markets. New markets include Detroit, Las Vegas and Tampa.
“Veritone developed aiWARE so that organizations in virtually any industry can easily take advantage of the power of artificial intelligence,” Ryan Steelberg, co-founder and president of Veritone, said in a release. “Media broadcasters were the first industry segment to adopt aiWARE… Their advertising customers benefit from new insights and campaign performance analytics similar to those in digital media, enabling budget and campaign optimization in whole new ways.”
Veritone is a public company founded in 2014.
Its proprietary aiWARE platform uses machine learning, a subset of AI, to “transform” audio, video and other data sources into “actionable intelligence.”
aiWARE can be used in various environments and configurations to meet customers’ needs. Its open architecture enables customers in fields like media and entertainment; legal and compliance; and government sectors to easily use applications that leverage the power of AI to ehance operational efficiency and effectiveness.
Veritone has more than 300 employees with additional offices in Denver, London, New York, San Diego and Seattle.
About Beasley Media Group
Beasley Media Group is a subsidiary of Beasley Broadcast Group, based in Florida, which owns and operates 63 stations (45 FM and 18 AM) in 15 large and mid-size markets around the country.
Approximately 19 million consumers listen to Beasley radio stations weekly over-the-air, online, on smartphones and tablets, as well as engaging with the company’s brands and on-air personalities via digital platforms like Facebook, Twitter, text, apps and email.