Veritone Creates AI-Driven Revenue Opportunities for Enterprise Media & Entertainment Companies on AWS

Rhea-AI Summary

Veritone has announced an extension of its collaboration with Amazon and AWS to enhance services for Media & Entertainment clients. The partnership aims to transform how content creators manage and monetize assets using aiWARE, Veritone's AI platform, combined with AWS capabilities. This extension reaffirms Veritone’s commitment to modernizing content production. With services like Digital Media Hub, M&E brands can streamline data management and uncover valuable content while capitalizing on new revenue opportunities.

Positive

• Extension of collaboration with Amazon and AWS enhances services for Media & Entertainment customers.
• Integration of aiWARE with AWS supports end-to-end content production in the cloud.
• M&E brands can streamline data management and maximize revenue opportunities.

Negative

• None.

Veritone Enterprise AI solutions leverage AWS to process 50K customer media hours per day, equivalent to 5 years of audio and video content, accelerating discovery

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise artificial intelligence (AI) platform, has announced an extension of its work with Amazon (NASDAQ: AMZN) and Amazon Web Services (AWS) to support its Media & Entertainment (M&E) customers. Last year, Veritone joined the AWS for Media & Entertainment initiative that helped content creators, rights holders, producers and distributors easily identify industry-specific AWS capabilities and accelerate transformation across five key industry innovation centers. By continuing to support the AWS for Media & Entertainment initiative, Veritone reaffirms its commitment to modernizing how IP owners of all sizes produce, distribute and ultimately monetize their content.

Veritone brings a portfolio of content-enabling technologies and services that, when running on AWS, allows for end-to-end production in the cloud. With aiWARE as the enterprise platform, companies can build and deploy AI-powered workflows while seamlessly integrating with their current datasets, applications and processes.

“Working in lockstep with AWS allows us to deliver the most current content production, management and monetization tools, which help M&E customers to overcome the challenges of processing digital content at greater speeds and depth with metaverse and Web3 activations,” said Ryan Steelberg, president and co-founder of Veritone. “Combining the power and scale of AWS along with our aiWARE technology, applications and services ensure that IP owners and content creators have a complete arsenal to create and maximize revenue opportunities regardless of where they exist or appear.”

“With Veritone, we can combine our skill sets and capabilities to offer a revolutionized way to create and monetize content no matter where creative workforces are located,” said Chris Blandy, global leader of strategy and business development for media & entertainment, AWS. “Leveraging Veritone’s AI platform on AWS, content creators and distributors are unlocking new ways to monetize existing libraries and create more engaging programming. The demand for content is not slowing down, and having the ability to identify and access the right asset immediately is essential for meeting the demanding pace of production.”

Veritone and AWS magnify benefits for Media & Entertainment organizations

With aiWARE serving as a foundation to incorporate AI and intelligent workflow capabilities into a content production environment, M&E brands can leverage aiWARE-based applications on AWS, such as Veritone Digital Media Hub, to streamline the management of unstructured data to activate the monetization of their vast media archives. By automating metadata tagging and creating intelligent and actionable media data lakes, content creators can efficiently uncover valuable content and ensure new assets do not become lost, allowing brands like the San Francisco Giants and CBS News to activate decades worth of content.

“Leveraging AI to structure our digitized archive of 80-plus years of Giants baseball history, aiWARE and Digital Media Hub have accelerated and expanded our content projects,” said Paul Hodges, vice president of content and entertainment, San Francisco Giants. “As part of the Veritone ecosystem, we like how we can incorporate more tools and capabilities as needed, future-proofing our content production for omnichannel fan engagement including Web3.”

As the next phase of content creation becomes more immersive and driven by “phygital” experiences, creators need tools to extend the content lifecycle to reach and access customers wherever they are consuming media. Veriverse, a portfolio of metaverse-ready solutions for the Enterprise, provides that much-needed bridge M&E brands are trying to cross to capitalize on the Web3 opportunity. Winner of back-to-back NAB Product of the Year awards for Veritone Voice and Veritone Avatar, Veriverse adds another layer of capability that is positioned to become industry standard.

“Veritone Voice and the rest of the Veriverse portfolio change how brands engage with their customers. With the ability to deploy internationally, including in the U.K., Veritone accelerates international product and service implementations while also taking into account GDPR standards,” said James Poulter, CEO, and co-founder, Vixen Labs. “From conversational AI applications to human-driven digital personas in immersive environments, we can truly make the digital experience feel human and authentic anywhere.”

In addition to Digital Media Hub and Veriverse, the Veritone portfolio of applications on AWS includes Attribute and Discovery, broadcast solutions designed to track and search content and provide proof-of-performance metrics. Additionally, through Veritone One, a performance-based audio and influencer agency creating impactful advertising for some of the world’s most recognizable brands, and Veritone Licensing, a full-service content licensing and clearance service activating content from some of the world’s most sought-after archives, companies have a one-stop-shop to implement a modern content practice to unlock their full revenue potential.

Veritone’s artificial intelligence products and services are available at www.veritone.com.

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 Denver, Colorado, and has offices in Costa Mesa, California; London and San Diego. To learn more, visit www.veritone.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220804005271/en/

Global Results Communications for Veritone, Inc.

Lora Wilson or Valerie Christopherson

veritone@globalresultspr.com

+1 949-608-0276

Source: Veritone

FAQ

How is Veritone collaborating with Amazon and AWS for Media & Entertainment?

Veritone has extended its collaboration with Amazon and AWS to enhance services for Media & Entertainment clients, aiming to modernize content production and monetization.

What technologies are being utilized in the Veritone and AWS partnership?

The partnership utilizes Veritone's aiWARE platform and AWS capabilities to support efficient media management and streamline content production.

What benefits does aiWARE provide to Media & Entertainment brands?

aiWARE allows M&E brands to streamline data management and activate monetization of their media archives, enhancing revenue potential.

What is the significance of Veritone's Digital Media Hub?

The Digital Media Hub aids in managing unstructured data for content creators, enabling them to uncover valuable assets and optimize revenue generation.

What is Veriverse in relation to Veritone's offerings?

Veriverse is a portfolio of metaverse-ready solutions that help Media & Entertainment brands capitalize on Web3 opportunities.