Source: Veritone, Inc.
AI Technology Provides Unprecedented Insights into Sports Media and Sponsorship Analytics
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Veritone, Inc., a leading cloud-based Artificial Intelligence (“AI”) media technology company, pioneering the world’s first Cognitive Media Platform™ (CMP), announced today that it has expanded its presence in sports media by signing marquee client Speedway Motorsports, Inc. (NYSE: TRK). Veritone’s comprehensive Cognitive Media Platform™ enables sports organizations to analyze radio and television broadcasts, in near real-time, providing them with a 360-degree understanding of sponsorship impact and value.
“Veritone’s media reach allows us to search TV and radio to understand what trends and topics are being talked about leading up to and during our events. With this technology, we can show our sponsors the spike in their brand mentions, both locally and nationally, leading up to a race”
“Veritone’s first-of-its-kind technology provides sports leaders like ESPN Radio, Westwood One and our newest partner, Speedway Motorsports, a unique view into current and prospective sponsorships by analyzing spoken and visual broadcast integrations within minutes of airing. This level of media intelligence allows teams and advertisers to work together more closely to further their respective brands,” said Ryan Steelberg, President, Veritone Media.
Powering this platform is Veritone’s innovative AI-based media processing technology, including automated logo recognition, transcription and face detection, which now allows teams to better understand and communicate the holistic value of their sponsorship packages.
Traditionally, sponsor campaign recap summaries are delayed weeks, if not months, long after a campaign can be adjusted for more enhanced targeting and reach. As Veritone’s technology processes broadcasts in near real-time, teams have access to sponsorship delivery and efficacy analytics within minutes. With this, sports organizations can have fast and educated conversations with their partners to maximize campaign yield.
“Veritone’s media reach allows us to search TV and radio to understand what trends and topics are being talked about leading up to and during our events. With this technology, we can show our sponsors the spike in their brand mentions, both locally and nationally, leading up to a race,” said Braun Smith, Vice President, National Sales, Speedway Motorsports.
Today, companies are able to search Veritone’s vast public media index to find occurrences of their sponsors being talked about in association with their team or brand. This new technology enables organizations to show added value and over-delivery to sponsors and advertisers by finding and sharing mentions from relevant popular media.
Headquartered in Newport Beach, California, Veritone, Inc. is a leading cloud-based Artificial Intelligence media technology company pioneering the world’s first Cognitive Media Platform™ (CMP). The CMP is an ecosystem that enables customers in markets including media, legal, politics and law enforcement to extract value from the intelligence embedded in the world’s public and private audio and video content, which comprises the majority of all global data produced each year. Founded in 2014, Veritone has already won several of the industry’s most prestigious awards including the 2016 Red Herring Top 100 North America Award and the 2016 SIIA Business Technology CODiE Award for Best Native Advertising Platform or Service. Veritone was founded by serial entrepreneurs and brothers, Chad and Ryan Steelberg. The duo have a successful track record in identifying new market opportunities, creating disruptive technology-based companies and leading them to successful exits for their stakeholders. To learn more about how Veritone seeds the cloud, visit www.veritone.com.
About Speedway Motorsports, Inc.
Speedway Motorsports, Inc. is a leading marketer, promoter and sponsor of motorsports entertainment in the United States. The Company, through its subsidiaries, owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway. The Company provides souvenir merchandising services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its U.S. Legend Cars International subsidiary; and produces and broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary. For more information about the company, please visit the Speedway Motorsports website.