COSTA MESA, Calif. & NEW YORK--(BUSINESS WIRE)--Veritone® Inc. (NASDAQ: VERI), a leading provider of artificial intelligence (AI) insights and cognitive solutions, and Block Six Analytics, Inc. (B6A), a sponsorship ROI technology and analytics company, today announced that they have entered into an agreement to integrate their technology platforms to enable both companies’ customers to leverage AI to better collect, analyze, and assess the value of sponsorships and branded integrations present in broadcast and digital media.
The planned integration of Veritone and B6A product offerings will provide customers of both companies with unique insights through AI-derived analytics in service of the broadcast and streaming media portion of the global sponsorship market, which is projected to total $62.8 billion in 2017.
The Veritone Platform offers a unified AI solution based on an open ecosystem of cognitive tools and powerful applications to capture, index, and search broadcast and digital content. Veritone will use outputs from the Block Six Analytics Media Analysis Platform (MAP), within B6A’s Partnership Scoreboard™ platform, for enhanced logo detection and valuation. MAP uses a combination of machine and computer vision to automatically determine the placement, prominence, and length of time that a logo or other object appears within different media.
“We are delighted to take the first step of integrating B6A’s capabilities into the Veritone Platform,” said Ryan Steelberg, president of Veritone. “The number of our customers asking for a valuation solution for sponsorship and branded integrations that span multiple media channels is growing, and the innovative B6A offering will allow our users to access valuations effectively and efficiently.”
Through the partnership, B6A will enhance its cognitive and analytic capabilities by incorporating additional AI engines from the Veritone Platform, including natural language processing (NLP), face recognition, translation, and optical character recognition (OCR).
“Veritone’s ability to rapidly index and cognitively extract rich metadata from broadcast and digital media will enable B6A to maximize the value of MAP,” said Adam Grossman, chief executive officer of B6A. “This integration will further Veritone and B6A efforts to better serve our clients, develop new products, and facilitate our continued growth as industry leaders in machine learning and artificial intelligence.”
Veritone, Inc. is a leading artificial intelligence company that has developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. The open platform integrates an ecosystem of best-of-breed cognitive engines and powerful applications, which are orchestrated together to reveal valuable, multivariate insights from users’ data. To learn more about Veritone, please visit Veritone.com
About Block Six Analytics, Inc.
Block Six Analytics (B6A) analytics-fueled technology enables companies to maximize ROI on their sports sponsorship spend across all advertising channels. Our machine learning technology helps our clients generate incremental revenue growth and reduce reporting costs. We use our technology and analytics to determine the value of television-viewable billboards, signage, calls-to-action, and social media conversation. B6A ensures that buyers and sellers of sports sponsorship have the information they need to make the best data-driven decisions for their organizations. To learn more about B6A, please visit blocksixanalytics.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the parties' intent to enter into an agreement, the integration of the Veritone Platform with Block Six Analytics’ products, the expected size of the global sponsorship market and the expected benefits to Veritone, Block Six Analytics and their respective customers. 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 Block Six Analytics and Veritone. Although Block Six Analytics and Veritone believe 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 Block Six Analytics and Veritone or any other person that their objectives or plans will be achieved. Neither Block Six Analytics nor Veritone undertakes any 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.