Veritone Expansion Fuels Growth in Thriving Latin American Market with FOX Sports Brasil Relationship
October 12 2017 - 09:00AM
Business Wire
Latin American FOX Division Using Veritone
Artificial Intelligence to Extract New Value from Broadcast
Content
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.
About Veritone
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.
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BLASTmedia for Veritone, Inc.Jake Doll, 317-806-1900
x122jake@blastmedia.com
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