Why Veritone Inc. Stock Jumped Today
Shares of Veritone Inc. (NASDAQ: VERI) jumped 9.7% Monday after the artificial intelligence platform company significantly expanded its relationship with iHeartMedia.
More specifically, Veritone announced it has signed an expanded, two-year agreement with iHeartMedia, giving the audio company a license to its aiWARE platform for over 200 of its radio stations in America's top 50 markets. According to Veritone, the deal allows iHeartMedia "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."
"Incorporating Veritone's artificial intelligence capabilities into the robust and data-focused iHeartMedia media ecosystem is another important step toward a smarter future in audio," said Tim Castelli, iHeartMedia's president of national sales, marketing and partnerships. "We are the leaders in audio content and data and Veritone will dramatically assist in our current content monitoring and extension workflow, providing us with even more opportunities to enhance our advertising and content initiatives."
Source: Fool.com
