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Veritone Partners With EMPA GmbH to Transform Video Search and Discovery With AI During ADAC TotalEnergies 24h Nürburgring Race
Rhea-AI Impact
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Rhea-AI Sentiment
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Tags
partnership
Rhea-AI Summary
Veritone announces a collaboration with EMPA GmbH and SPORTTOTAL LIVE GmbH for AI-enhanced video services at the 50th ADAC TotalEnergies 24h Race in Germany from May 26 to 29, 2022. The partnership aims to optimize video content management through Veritone Digital Media Hub, facilitating easier access to vast amounts of footage and improving stakeholder engagement. The event, known for its intense competition, demands advanced processing and tagging of video for efficient searchability. This initiative is expected to streamline workflows while enhancing content sharing and production efficiency.
Positive
Partnership with EMPA and SPORTTOTAL enhances capabilities in managing extensive video content for major events.
Introduction of Veritone Digital Media Hub improves stakeholders' access and efficiency in video content management.
Integration of AI technology aids in rapid processing and tagging of footage, allowing near-live editing.
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Using AI digital asset management, partners can cognitively enrich extensive amounts of video content while reducing search time, maximizing footage use and improving stakeholder access
DENVER--(BUSINESS WIRE)--
Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, has announced a partnership with EMPA GmbH to work with SPORTTOTAL LIVE GmbH and ADAC Nordrhein e.V. to bring AI-enabled video discovery, metadata enrichment, and search capabilities to the 50th ADAC TotalEnergies 24h Race at the Nürburgring. The event on the circuit famously labeled the “Green Hell” to be held in Germany, May 26 to 29, 2022, is one of the largest international motor racing events and features an average of 180 cars and between 600 to 800 hobbyist and professional drivers.
The Nürburgring, a combination of the Grand Prix circuit and the infamous Nordschleife (North Loop), courses through the dense forests of Germany’s Eifel region and stretches 25.378 undulating kilometers. The 24-hour endurance race has garnered a cult-like following, as well as high demand for video footage. In 2021, media coverage reached eight national broadcasts, 318 international broadcasts and over 3250 hours of transmission time.
For the event, SPORTTOTAL and the ADAC Nordrhein will be adding Veritone Digital Media Hub to their video toolboxes, changing the way footage is processed, stored and distributed. Veritone Digital Media Hub, a cloud-native, AI-enabled DAM platform, presents a unique solution that creates a globally accessible content hub to streamline workflows and provide effective search and discovery solutions for racing teams, advertisers and media.
“We are very happy about the cooperation with Veritone as it strengthens our efforts in digital transformation around the mediatization of the major international sporting event that is the ADAC TotalEnergies 24h-Race. The Digital Media Hub delivers added value to all our partners and accelerates processes to fulfill content requests,” said Matthias Wurm, managing director of SPORTTOTAL.
Typically, sporting events involve multiple parties, each using their own different systems to record, edit and archive content. This workflow siloes data across multiple platforms, making it difficult to search for specific content and can cause weeks of work post-event to find relevant video footage. This is challenging enough in the case of a 90-minute feature sprint, but it becomes exponentially more difficult for a 24-plus hour event such as the Nürburgring race.
Veritone Digital Media Hub processes and tags large amounts of video data quickly and thoroughly, allowing marketers, event organizers and stakeholders to search through that data and pinpoint the most relevant content to their parameters. By using Veritone aiWARE, which is fully integrated with Digital Media Hub, the official event footage is uploaded in smaller increments and made readily searchable by automating metadata tagging. Leveraging best-of-breed models in transcription, optical character recognition and logo recognition from the aiWARE ecosystem, users can start researching and editing content on a near-live basis while the race is still ongoing.
“By offering this new system, we can provide a whole new solution to stakeholders like sponsors, individual teams and media,” said Nikolaus Spaleck, managing director, EMPA GmbH. “Digital Media Hub facilitates the quick and easy access needed for large and small video projects, and allows stakeholders to streamline their unilateral production and post production workflows–especially with the relevant metadata that Digital Media Hub automatically produces, allowing everyone to move more efficiently than before.”
“We are proud to offer a solution that enables intelligent search across all media assets including broadcast-quality video, still images, audio, and other ancillary files,” said Scott Leatherman, chief marketing officer at Veritone. “Particularly at such a scale as the Nürburgring Race, content sharing is instantly accelerated and production workflows enhanced. That’s a win for everyone.”
Veritone Digital Media Hub presents opportunities for parties to benefit from all stored media, including from previous events while having direct access to a centralized view of archived content. This reduces time, eliminates intermediaries, minimizes production and distribution challenges, and promotes the use of video, both in quality and quantity.
Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) software and solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications accelerate and maximize digital migration, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s expansive 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 professional and managed services, as well as its robust partner ecosystem, Veritone develops and builds AI solutions that solve the problems of today and tomorrow. To learn more, visit Veritone.com.
About SPORTTOTAL
SPORTTOTAL LIVE GmbH specializes on live communication as an experience factor in the branded content environment. This includes in particular marketing and medialization of major sporting events. Since 1999, SPORTTOTAL has owned the moving image and advertising marketing rights for the ADAC TotalEnergies 24h Nürburgring and has at the same time been commissioned with TV production and TV distribution. SPORTTOTAL advises and supports partners and sponsors of the race and ensures that their commitment becomes a resounding success. In addition to the pure visibility at the race track, SPORTTOTAL offers customer-specific and exclusive hospitalities and assures that the event is integrated into the global media coverage of the race with a broad reach.
About EMPA
EMPA is an agency specialized in the audiovisual communication of (motor) sports events based in Pulheim, Germany. EMPA represents a wide portfolio of premiere motorsport properties and contents including the ADAC TotalEnergies 24h-Race, DTM, FIA European Truck Racing Championship, Formula Regional European Championship certified by FIA as well as established TV magazines like FastZone and GP Confidential with a strong global reach. As a full-service provider, EMPA oversees all distribution-related aspects of these projects, from broadcaster acquisition, via coordination and operative management all the way to monitoring and analysis of the on-screen success. Embracing the challenges of today and tomorrow, EMPA has committed to operating as a CO2-neutral company.
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.
