COSTA MESA, Calif. — July 10, 2019 — Veritone, Inc. (Nasdaq: VERI), the creator of the world's first operating system for artificial intelligence, aiWARE™, today announced that Cox Media Group (CMG) has selected the aiWARE-powered Veritone Essentials suite of applications to use across its 60+ radio stations in 11 markets. CMG Radio is the latest major broadcast group to join leading broadcasters and thousands of stations in deploying Veritone's applications to streamline content curation and demonstrate ROI for advertisers.
CMG Radio uses the Essentials applications to provide AI-powered analytics and insights for both its local direct-sales teams and its national advertising partners. Additionally, the CMG Radio content team leverages the Discovery application to generate insights more efficiently and choose which on-air content should be extended to digital mediums such as social media.
"Veritone's industry-leading AI platform will help CMG offer better, more effective marketing solutions to our customers by providing data and insight that has previously not existed in the broadcast space," says Tim Clarke, vice president of audience and content, CMG Radio. "Furthermore, our content teams are excited to leverage the tool to automate tedious processes and assist with content tracking, discovery, and archiving."
In terms of audience reach, radio remains a leading advertising medium in America and is highly effective at driving results, but broadcasters must substantiate its effectiveness with empirical data and analytics. That's what Veritone Essentials is designed to do. The Veritone platform's unparalleled combination of features and applications allows CMG Radio to demonstrate success, enabling it to better compete for share of ad spend and retain existing spend. Just as importantly, thanks to AI, CMG Radio can now automate workflows such as campaign recapping, quantifying earned media, tracking native and influencer campaigns, and selecting on-air content to be distributed online — all processes that were previously 100% manual.
Built on the aiWARE platform, Veritone Essentials is a set of intelligent applications for content ingestion; management; search; and distribution of audio, video, and still images. Veritone can easily ingest and index live or archived broadcast content, then immediately make it available for search, curation, and sharing. Essentials applications augment and accelerate existing analytics workflows, helping broadcasters jump-start their AI journeys and transform and extend their data in a fraction of the time. aiWARE is flexible and extensible, currently boasting 18 cognitive classes over AI engines, which enables organizations to evolve their use of AI continuously and future-proof their investment.
"As advertising has become more data-driven, it has become ROI-driven. That means advertisers expect to see concrete evidence that it's working. Now Cox Media Group sales reps can supply that evidence quickly, accurately, and with far less effort than it used to take, thanks to the AI ecosystem behind Veritone Essentials and its easy-to-use application interface design," said Veritone President Ryan Steelberg. "Station groups throughout the country are turning to Veritone to be more competitive and automate and super-charge internal workflows that have been resource-intensive."
More information about Veritone's products and services is available at www.veritone.com.
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About Veritone
Veritone (Nasdaq: VERI) is a leading provider of artificial intelligence (AI) technology and solutions. The company's proprietary operating system, aiWARE™, orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. aiWARE can be deployed in a number of environments and configurations to meet customers' needs. Its open architecture enables customers in the media and entertainment, legal and compliance, and government sectors to easily deploy applications that leverage the power of AI to dramatically improve operational efficiency and effectiveness. Veritone is headquartered in Costa Mesa, California, with over 300 employees, and has offices in Denver, London, New York, San Diego, and Seattle. To learn more, visit Veritone.com.
Product or service names mentioned herein are the trademarks of their respective owners.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the integration of Wazee Digital's Core and Digital Media Hub solutions with Veritone's aiWARE operating system and the expected benefits to customers, the amount of surveillance video expected to be captured daily in 2019, and the Company's ability to readily add new capabilities from the Veritone platform to the Redact application. 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.
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