Veritone, which provides artificial intelligence (AI) technology to broadcasters, is moving deeper into the ad sales business. The Costa Mesa, CA-based company has teed up the VeriAds Spot Network, which handles sales, fulfillment and verification for run-of-schedule and dayparted spots for radio and television stations. Participating stations are required to make 1-18 minutes of inventory available per day for network sales.
The new network was announced Thursday as part of the company’s new VeriAds network, offering a trio of products for broadcasters, podcasters and social media influencers. The new products include 10, 15 or 30- second live reads, branded as MicroMentions. They’re sold on a cost per thousand impressions (CPM) basis and stations decide when their air talent does the live read.
The third offering is a pay-per-performance product for radio, podcast and Instagram and YouTube influencers that makes unsold inventory available to Veritone’s Fortune 1000 ad partners.
“These programs open up a new avenue for all media partners – from radio and TV broadcasters to podcasters and social influencers – to generate new, incremental advertising revenue in a straightforward way that minimizes operational impact and doesn’t infringe on their existing inventory,” said Drew Hilles, Senior VP of Veritone and head of VeriAds. “The VeriAds suite of solutions also creates new advertising channels for brands, who can now access new native ad and influencer advertising opportunities.”
The network uses Veritone’s AI operating system, known as aiWARE, which produces insights and standardized metrics and reporting. The company says VeriAds revenue programs are programmatically managed and handle all ad sales, collections, clearance verification and revenue distribution.