Veritone Renews and Expands Exclusive Global Licensing Agreement with CBS News and Stations

Rhea-AI Summary

Veritone (NASDAQ: VERI) has renewed its exclusive global licensing agreement with CBS News, expanding the partnership to include CBS Owned Stations' local news content. The multi-year contract renewal enables Veritone to continue providing content licensing solutions, giving creators access to millions of hours of CBS News archival and breaking news content.

CBS News and Stations will utilize Veritone's aiWARE enterprise AI platform, which enhances content accessibility across distribution channels and creates new monetization opportunities. The platform indexes the CBS library with time-correlated metadata, enabling precise search and retrieval of specific scenes, quotes, or highlights, while automating rights management and delivery.

Positive

• Secured multi-year renewal of exclusive global licensing agreement with CBS News
• Expanded partnership scope to include CBS Owned Stations' local news content
• Enhanced monetization opportunities through aiWARE platform integration
• Strengthened position in media and entertainment industry

Negative

• None.

Insights

Tech Analyst

The renewal and expansion of Veritone's exclusive licensing agreement with CBS News represents a significant business development. The deal leverages Veritone's aiWARE platform to index and monetize CBS's vast content library, creating new revenue streams through enhanced content accessibility and distribution. The expanded scope to include CBS Owned Stations' local news content substantially increases the addressable market. For Veritone, with a relatively small market cap of $94M, this multi-year contract renewal provides important revenue stability and validates their AI technology's value proposition in the media industry. The deal's ability to automate rights management and content discovery through AI-driven metadata tagging addresses key pain points in content monetization and should drive operational efficiencies for both parties.

Media Industry Analyst

This partnership expansion is strategically significant as it positions Veritone as a key player in the evolving media content licensing landscape. By securing exclusive rights to both national CBS News content and local station archives, Veritone gains a competitive advantage in serving content creators across various platforms. The deal's value lies in the growing demand for archival content among streaming platforms, documentarians and digital content creators. The AI-powered search capabilities make vast content libraries more accessible and monetizable, addressing a critical industry need. For CBS, this partnership optimizes their content value while maintaining control over their intellectual property, creating a win-win scenario that could serve as a model for future media licensing agreements.

Veritone and CBS News strengthen longstanding partnership, expanding AI-driven content licensing and distribution across national and local platforms

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, today announced the renewal of its longstanding exclusive global licensing agreement with CBS News. The multi-year contract renewal solidifies Veritone’s position as a premier provider of content licensing solutions for broadcast networks and expands the partnership to include exclusive local news content from CBS Owned Stations.

For over a decade, CBS News and Veritone’s licensing agreement has paved the way for television producers, filmmakers, podcasters and local-to-global content creators to have access to millions of hours of CBS News’s archival and breaking news content.

CBS News and Stations will continue to utilize Veritone’s aiWARE^TM enterprise AI platform, which enhances access to its extensive licensed content across numerous distribution channels, opening new monetization avenues. The advanced AI capabilities of aiWARE index the CBS library with accurate, time-correlated metadata to enable advanced and precise search and retrieval, helping researchers and creatives to quickly find specific scenes, quotes or highlights, and automate rights management and delivery.

"We are thrilled to extend our longstanding CBS News partnership," said Jay Bailey, senior vice president of licensing, Veritone. "With Veritone's Content Licensing platform, CBS News and Stations gain continued access to advanced AI solutions to enhance the accessibility of their content and provide exceptional experiences for viewers across digital landscapes. This renewal is a testament to the value we deliver, and we’re excited to drive further innovation and growth in how users can search and identify their content."

The agreement strengthens Veritone's portfolio within the media and entertainment industry, underscoring its commitment to helping companies optimize content distribution, improve audience engagement and maximize revenue.

For more information about Veritone content licensing, visit: https://licensing.veritone.com.

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/20241212462218/en/

Media Contact:

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 scope of Veritone's renewed licensing agreement with CBS News?

The renewed agreement is a multi-year, exclusive global licensing deal that includes CBS News content and expands to CBS Owned Stations' local news content, allowing access to millions of hours of archival and breaking news content.

How does Veritone's aiWARE platform benefit CBS News content distribution?

aiWARE enhances content accessibility by indexing the CBS library with time-correlated metadata, enabling precise search and retrieval of specific content, while automating rights management and delivery across distribution channels.

What new opportunities does the VERI-CBS partnership expansion create?

The expanded partnership creates new monetization avenues through enhanced content distribution and accessibility, while strengthening Veritone's position in the media and entertainment industry.

How long has Veritone (VERI) been partnering with CBS News?

According to the press release, Veritone and CBS News have maintained their licensing agreement partnership for over a decade.