Veritone Signs New Multi-Market License Agreements

Veritone Inc. has announced that it has entered into new multi-market license agreements with leading broadcasters Beasley Media Group, Reach Media and the Tom Joyner Network, Townsquare Media, and Results Radio, in addition to renewing its existing license agreement with Hubbard Radio.

These agreements give the broadcasters a license to the Veritone aiWARE™ platform to seamlessly and automatically process, transform, and review audio data in near real-time, with enhanced ad and content tracking, comprehensive analytics, faster content extension, and smarter media management.

“Veritone puts the AI in radio,” said Drew Horowitz, president and chief operating officer of Hubbard Radio. “Broadcast audio continues to stay relevant thanks to its ability to adapt to the technological changes. But as more listeners consume programs, ads and organic content, we’re left with mountains of data that require significant man-hours in order for us to report on audience-based data. We know that radio has the ability to adjust to meet consumers and Hubbard Radio is always looking for ways to capitalize on the versatility of radio. Veritone aiWARE allows us to deliver value to listeners while simultaneously giving us insight that helps advertisers and broadcasters.”

According to Statista, radio is the third most powerful medium in the United States, reaching 54 percent of the country’s population daily, and is considered the leading reach platform compared with any other medium, including TV and mobile. The extensive reach of radio means that advertisers must fight for air space and radio groups must deliver actionable insights for advertisers and sponsors as well as internal programming and business development personnel.

“We now have the ability to utilize differentiated and previously unavailable sales enhancement tools via the analytics afforded by the Veritone platform – allowing for data-driven and value-added discussions with our valued advertising partners,” said Bob McCurdy, vice president of corporate sales at Beasley Media Group. “Veritone aiWARE is exactly where we need to be going as a company to provide the kind of data and accountability that advertisers rightfully expect.”

“The evolution of broadcast media – from strictly radio-based, to video, to online and now to podcast format – proves it will continue to be a dominant platform, said Ryan Steelberg, president and co-founder of Veritone. “We will continue to see this market change as the public demands new ways to consume media content. This increasing complexity is making it both more critical and more challenging for broadcasting groups and advertisers to evaluate and measure the impact radio has on customers. They will have to deploy tools to help track and extend their broadcast distribution, unlock audience-based data and insights, and measure listener sentiment and the effectiveness of advertising campaigns. Deploying AI can give advertisers and radio groups the insight they need, and Veritone ensures that our partners are at the forefront of trends and interactivity with broadcasters.”