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Audacy Adds Veritone Attribute to Deliver Enhanced Campaign Metrics to Its Advertisers
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Veritone (NASDAQ: VERI) announced that Audacy (NYSE: AUD) has expanded its use of Veritone Attribute, enhancing analytics for advertising campaigns. This tool provides insights into campaign performance across Audacy's radio brands, helping advertisers measure the effectiveness of broadcast ads compared to other media. Research indicates that advertisers utilizing attribution reporting typically increase spending and reduce campaign cancellations. Veritone Attribute offers detailed metrics on the correlation between ad exposure and website traffic, enabling targeted campaign optimizations. This partnership aims to optimize advertisers' investments and improve their overall campaign outcomes.
Positive
Expansion of Veritone Attribute usage by Audacy enhances advertising analytics.
Research shows advertisers with attribution reporting increase spending by 10% and reduce cancellations.
Veritone Attribute offers insights on ad performance, helping optimize campaigns.
Negative
None.
Veritone Attribute enables Audacy to provide advertisers with additional analytics capabilities for campaign planning, performance monitoring and optimization
DENVER--(BUSINESS WIRE)--
Veritone, Inc. (NASDAQ: VERI), creator ofaiWARE™, and a leader in enterprise AI software and services, today announced that Audacy, a leading multi-platform audio content and entertainment company, is now leveraging Veritone Attribute. An existing user of Veritone’s AI applications, Audacy expands its usage with Veritone Attribute to improve and enhance data and analytics reporting for advertising customers.
Through the addition of Veritone Attribute, Audacy will supplement their ability to prove the efficacy of broadcast ad campaigns by sharing directional insights with advertisers as to how their campaigns are performing over a cross-section of Audacy’s portfolio of radio brands. With these insights, advertisers will be better able to evaluate campaign performance on Audacy stations in comparison to other mediums. Research has shown that advertisers who receive attribution reporting spend more year-over-year and cancel their ad campaigns less often on average than those who don’t measure performance.
“As we aim to best serve our clients, Veritone Attribute will further enable us to optimize advertisers’ campaigns and maximize their ad dollars,” said Brian Benedik, Chief Revenue Officer, Audacy. “There has never been a better time to leverage the power of audio to tap consumers, and this technology will complement our existing capabilities.”
Veritone Attribute helps advertisers determine the correlation between broadcast ad exposure and website traffic and delivers insights that allow advertisers to optimize campaigns by creative, daypart, day of week and station to enhance the results of those campaigns. Additionally, through integration with existing Veritone aiWARE applications, Audacy can measure actions that listeners take after exposure to in-content mentions and brand integrations, including those from sponsorships, billboards, live mentions, promotional commercials and more.
“We’re excited to extend our relationship with Audacy and to help them continue to deliver best-in-class measurement and optimization to their advertisers through Veritone Attribute,” shared Drew Hilles, senior vice president, Veritone. “By continuing to deliver essential insights on ad performance and optimization, Audacy is able to empower their current customers with valuable data and engage new ones by showcasing the effectiveness of campaigns across their portfolio of stations.”
Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s leading Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.
Audacy, Inc. (NYSE: AUD) is a leading multi-platform audio content and entertainment company with the country’s best collection of local music, news and sports brands, a premium podcast creator, major event producer, and digital innovator. Audacy engages 200 million consumers each month, bringing people together around content that matters to them.
Learn more at www.audacyinc.com, Facebook (Audacy Corp) and Twitter (@AudacyCorp).
Safe Harbor Statement
This news release contains forward-looking statements. 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.
Veritone Attribute is a tool that provides advertisers with analytics capabilities to measure and optimize the performance of their advertising campaigns across various media.
How does Veritone Attribute impact Audacy's advertising?
By utilizing Veritone Attribute, Audacy can offer advertisers insights on campaign effectiveness, leading to better performance and optimization of ad spending.
What are the benefits of using Veritone Attribute for advertisers?
Advertisers using Veritone Attribute can gain detailed insights into ad performance, leading to increased spending and reduced campaign cancellations.
When did Audacy expand its use of Veritone Attribute?
The announcement regarding Audacy's expanded use of Veritone Attribute was made on March 2, 2023.
