Veritone Launches SPORTX, an AI-Driven, Short-Form Sports Video Licensing Marketplace
ATP Media, Euroleague Basketball, Extreme E and SNTV among early adopters
Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today launched SPORTX, a new intelligent marketplace for sports federations and content producers from around the globe to license short-form sports video directly to media buyers, maximizing additional revenue streams and their visibility amongst media organizations.
Sports rights holders on board with SPORTX include ATP Media, Euroleague Basketball and Extreme E. Several other federations and sports content owners are in advanced discussions to place their content onto SPORTX in the coming weeks. In addition, SPORTX plans to host content from SNTV, the world’s biggest sports news video outlet, which will include content from this year’s World Cup in Qatar, including press conferences, stadium profiles, fan zones, game reviews and profiles of all 32 teams.
“This is an exciting development for Veritone and the sports media industry. SPORTX provides a supplementary revenue stream and new global customer base for producers of sports content and short-form video globally. This is another innovative step for the company and comes on the heels of last week’s announcement of our AI-voice partnership with sports data and tech leader Stats Perform as we move deeper into the sports space as a business,” said Veritone President Ryan Steelberg.
SPORTX is powered by aiWARE to automatically deliver quality, rights-cleared, indexed and metadata-rich video in a highly secure environment in seconds. Pricing, which is set by the rights holder, will be dependent on the usage type, content and region. Content owners can add multipliers when there is an increase in demand.
There is no upfront fee for federations and video suppliers to make their content available to license on SPORTX and can include highlights, news, social posts and user-generated content. Media buyers can use the content for all types of editorial, sport programming, TV shows and social or digital channels, depending on the license parameters set by the video provider.
“Our goal is to connect global sports content owners with a network of media buyers in a highly accessible sports content exchange, using AI that will continue to learn buying and selling patterns from both sides of the marketplace. This is an opportunity for sports content producers to maximize the monetization of their digital assets and at the same time reach new audiences and grow their sport’s footprint,” said Elizabeth Eastham, managing director of SPORTX at Veritone.
Eastham added, “Through AI, we are able to deliver personalized and contextualized content recommendations in real-time. Data points from the available media are married with buying history, territory, platform, event and athlete preferences to create a unique feed for buyers. This efficiently speeds up the search for relevant content, saving time for buyers and allowing sellers to scale content opportunities and generate even more revenue.”
On the content provider side, SPORTX is for anyone who holds the rights to quality current licensable sports content. Rights clearance by the owner is established at the time of ingesting the content, which can be updated whenever available. Sellers can geo-block content they do not wish to license in certain territories. SPORTX’s analytics dashboard provides clarity on how content is performing with buyers and where it is being sold so that sellers can optimize their content strategy accordingly.
Media buyers create an account and can only access video that is clearly delineated for their use. SPORTX uses the financial payment processing platform Stripe to maintain a high level of security and ensure payments are protected. Stripe accepts most major credit cards and debit cards.
SPORTX complements Veritone’s existing offerings to sports federations, leagues, clubs and broadcasters around the world. These include Veritone Digital Media Hub, an AI-powered, white-label asset management and monetization solution that gives content owners the opportunity to generate more revenue from their assets by setting up their own digital storefront and makes content easily discoverable with AI-powered metadata tagging and content management.
Additionally, Veritone announced a new partnership with Stats Perform, the sports tech leader in data and AI that provides real-time play-by-play, pre-game, in-game and post-game updates. The solution combines the power of Veritone’s award-winning synthetic voice AI technology and Stats Perform’s unrivaled sports data, bringing localized, real-time AI voice capabilities to broadcasters, content creators, media organizations, brand agencies, teams, leagues and betting platforms around the globe.
Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-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 its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.
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