AI-fueled content identification and monetization specialist Veritone Inc. has expanded its partnership with CBS News to include many of CBS Media Venture’s entertainment properties, thanks to a new deal announced Tuesday.
The fresh agreement builds on an agreement originally forged in 2010 that gives Veritone the rights to license CBS News’ archives to television producers, filmmakers, and content creators. This expanded partnership now features CBS Media Ventures’ catalog, including the syndicated franchises “Entertainment Tonight” and “Inside Edition,” the classic talk show “The Mike Douglas Show,” and the news magazine “The Insider.”
Leveraging the advanced AI capabilities of Veritone’s aiWARETM platform and Digital Media Hub (DMH), the library, which combines more than 30,000 episodes over 55 years, will be indexed and enriched with time-correlated metadata, enabling efficient search and retrieval of content, Veritone says.
“This comprehensive AI-optimized solution increases access to CBS’s extensive archive and helps automate rights management and delivery, maximizing revenue opportunities and empowering creatives with content for feature films, documentaries, and beyond,” Veritone adds.
The agreement with CBS Media Ventures comes nearly two weeks after Veritone announced a $75 million equity offering, entering into a definitive agreement providing for the purchase and sale of an aggregate of 12,864,494 shares of common stock at a purchase price of $5.83 per share through a registered direct offering. Needham & Company acted as sole placement agent in the registered direct offering for certain investors.
Veritone’s Q3 earnings are due November 6, with three analysts polled by Yahoo! Finance expecting reduced losses. The consensus earnings per share estimate for Q3 stands at -$0.11, improving from -$0.19.
