Veritone Named Global Archive of Record and Exclusive Video Licensing Agent for the NCAA

Rhea-AI Summary

Veritone (NASDAQ: VERI) has secured a multi-year agreement with the NCAA to become its official global archive of record and exclusive worldwide footage agent for all NCAA championship content. This partnership leverages Veritone's AI-powered Digital Media Hub (DMH) platform to enhance the storage, management, and distribution of NCAA's extensive championship media assets across Divisions I, II, and III.

The collaboration aims to improve content accessibility for key stakeholders, including NCAA broadcast partners and member institutions. Veritone's licensing capabilities will enable the NCAA to monetize its championship content more effectively across various media verticals. The platform's AI-driven search functions will facilitate quick identification and licensing of relevant footage, meeting the growing demand for sports content while also managing social media content claiming and anti-piracy efforts.

Positive

• Multi-year agreement secured with NCAA as global archive of record and exclusive footage agent
• Potential for increased revenue through enhanced monetization of NCAA championship content
• Improved content accessibility and management for key stakeholders using AI-powered Digital Media Hub
• Expansion of Veritone's presence in the sports industry digital media management sector

Negative

• None.

Insights

Tech Expert

Veritone's partnership with the NCAA marks a significant advancement in sports content management and monetization. The implementation of AI-powered Digital Media Hub (DMH) for archiving and licensing NCAA championship content is a game-changer for both organizations. This technology will streamline content accessibility, potentially increasing revenue streams through more efficient licensing processes.

The AI-driven search and retrieval functions will likely reduce time-to-market for content licensing, meeting the growing demand for sports footage across various media platforms. Additionally, the platform's capability to manage social media content claiming and anti-piracy efforts adds a layer of protection for the NCAA's valuable digital assets.

While this partnership showcases Veritone's technological prowess, investors should note that the financial impact may take time to materialize fully. The success will depend on the adoption rate and the ability to monetize the vast NCAA content library effectively.

Market Research Analyst

This partnership positions Veritone strategically in the lucrative sports content market. With exclusive rights to NCAA championship content, Veritone gains a competitive edge in the AI-powered media management sector. The multi-year agreement provides a stable revenue stream and potential for growth as demand for sports content continues to rise across various media platforms.

Investors should consider the scalability of this model to other sports organizations and leagues. If successful, this could open doors to similar partnerships, expanding Veritone's market share. However, it's important to monitor the execution of this partnership and its impact on Veritone's financials in the coming quarters to gauge its true value.

The stock market may react positively to this news, as it demonstrates Veritone's ability to secure high-profile clients and expand its footprint in the sports industry. Long-term success will hinge on Veritone's ability to innovate and adapt its AI solutions to meet evolving content management needs.

Veritone’s licensing and AI-powered Digital Media Hub enable management, monetization and accessibility of NCAA Championship content

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, today announced a multi-year agreement with the National Collegiate Athletic Association (NCAA) to serve as its official global archive of record and exclusive, worldwide footage agent for all NCAA championship content. The agreement will leverage Veritone’s advanced AI-powered Digital Media Hub (DMH) platform, including its renowned licensing capabilities, to enhance the storage, management and distribution of the NCAA’s extensive championship media assets.

Veritone’s AI-powered digital asset management solution, DMH, provides the NCAA a secure, scalable and easily accessible archive for its vast collection of championship content from Division I, II and III women’s and men’s championships. The agreement will help ensure that media from NCAA championships are meticulously cataloged, organized and easily searchable for licensing clients and future use among key stakeholders including NCAA broadcast partners, member institutions, marketing and social media teams.

Veritone’s licensing capabilities empower the NCAA to monetize its championship content more effectively across documentary, editorial, advertising and entertainment verticals. The platform’s AI-driven search and retrieval functions will enable quick identification and licensing of relevant footage, meeting the growing demand for sports content across various media platforms, while also enabling Veritone to manage social media content claiming initiatives and anti-piracy efforts on behalf of the NCAA.

"We are excited to continue our relationship with Veritone as our official global archive and footage licensing agent," said Chris Termini, NCAA Managing Director of Championships External Operations. "This collaboration will allow us to preserve and share the rich history of NCAA championships while providing enhanced accessibility and licensing opportunities. Veritone's tech-driven solutions align perfectly with the NCAA’s commitment to innovation and our goal of showcasing the achievements of student-athletes across divisions."

"Our relationship with the NCAA underscores Veritone’s commitment to revolutionizing digital media management in the sports industry," said Ryan Steelberg, president and chief executive officer, Veritone. "Our AI-powered solutions will not only safeguard the NCAA’s historical championship content, but also enhance its value through streamlined management and innovative licensing opportunities."

Veritone has provided a key service in the support of student athletes for over a decade and specializes in name, image and likeness clearances for NCAA video licensees and Corporate Champions and Partners, helping ensure permissions and layers of compliance are properly secured for third-party commercial uses. Student athletes can also access the NCAA library for personal use and to obtain assets for paid, third-party sponsorships and endorsements.

For more information about how Veritone supports the NCAA, please click here. For more information about Veritone’s Digital Media Hub, please click here.

About Veritone

Veritone (NASDAQ: VERI) builds human-centered enterprise AI solutions. Serving customers in the media, entertainment, public sector and talent acquisition industries, Veritone’s software and services empower individuals at the world’s largest and most recognizable brands 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, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit 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/20240813918676/en/

Valerie Christopherson or Lora Metzner

Global Results Comms (GRC)

+1 949 608 0276

Veritone@globalresultspr.com

Sarah Rich

Veritone

srich@veritone.com

Source: Veritone, Inc.

FAQ

What is the new agreement between Veritone and the NCAA?

Veritone (VERI) has signed a multi-year agreement with the NCAA to serve as its official global archive of record and exclusive, worldwide footage agent for all NCAA championship content.

How will Veritone's technology benefit the NCAA?

Veritone's AI-powered Digital Media Hub will enhance the storage, management, and distribution of NCAA's championship media assets, improving accessibility and enabling more effective monetization of content across various media platforms.

What types of NCAA content will Veritone manage?

Veritone will manage championship content from Division I, II, and III women's and men's championships, including cataloging, organizing, and making it searchable for licensing clients and key stakeholders.

How does this agreement impact student athletes?

Student athletes can access the NCAA library for personal use and obtain assets for paid, third-party sponsorships and endorsements. Veritone also specializes in name, image, and likeness clearances for NCAA video licensees.