COSTA MESA, Calif.--(BUSINESS WIRE)--Veritone®, Inc. (NASDAQ: VERI), a leading provider of artificial intelligence (AI) insights and cognitive solutions, today announced that it has continued to expand internationally by growing its presence in the Latin American market, where the media and entertainment market in Brazil alone is projected to reach $43.7 billion by 2021. Brazil’s leading sports broadcaster, FOX Sports Brasil, has selected an on-premise deployment version of the Veritone aiWARE™ platform to cognitively enrich and index both archived content and live streams.
“Our expansion into Latin America and our new relationship with FOX Sports Brasil are part of our strategy to afford purpose-driven AI services across the world, stay close to our clients, and foster stronger relationships with international experts,” said Chad Steelberg, chairman and chief executive officer of Veritone. “By having a presence in Latin America, we are positioned to deliver premium services, technology and partner support that will help us deliver unmatched business value to customers in this market.”
Manuel Monroy is leading Veritone’s efforts in Latin America. Mr. Monroy is a former cloud architect and product owner of RealSense, a computer vision technology endeavor at Intel Corporation, and a former investment director at Intel Capital. He has served as an advisor to businesses in the U.S. and Latin America in the areas of strategic planning and mergers and acquisitions.
The relationship with FOX Sports Brasil represents the first instance of aiWARE for Xcellis® in partnership with Quantum. Supplied and integrated by Seal Broadcast & Content for FOX Sports Brasil, aiWARE for Xcellis is an award-winning hybrid on-premise and cloud version of the AI platform from Veritone.
“Incorporating Veritone’s artificial intelligence capabilities into our media workflows is an important step toward a smarter future in broadcast media,” said Luis Santos, vice president of engineering and operations at FOX Network Group Latin America. “With aiWARE, we will be able to uncover previously-unavailable insights from our libraries of archived media as well as from live content.”
The agreement with FOX Sports Brasil comes after Veritone’s recent new agreements with CBS RADIO and most recently with iHeartMedia to provide these market-leading broadcasters with near real-time ad and content tracking, comprehensive analytics, faster content extension, and smarter media management for their broadcasts.
Headquartered in Costa Mesa, Calif., Veritone has presence in New York, Los Angeles, San Diego, Washington D.C., London and now Latin America.
Veritone (NASDAQ: VERI) is a leading artificial intelligence company that has developed a unique platform, aiWARE, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in a variety of markets, including media, politics, legal and government. The open platform integrates an ecosystem of best-of-breed cognitive engines and powerful applications, which can be orchestrated together to reveal valuable, multivariate insights. aiWARE delivers unprecedented insights by unlocking data from linear files such as radio and TV broadcasts, surveillance footage and public and private content globally. To learn more about Veritone, please visit Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding Veritone’s expansion in Latin America and its resulting ability to deliver services to customers in that market, the projected growth of the media and entertainment market in Brazil, the Company’s international expansion strategy, the use of the Veritone aiWARE platform by FOX Sports Brasil and the expected benefits. 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.