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    VERI   US92347M1009

VERITONE, INC.

(VERI)
  Report
Delayed Nasdaq  -  04:00:00 2023-02-01 pm EST
9.970 USD   +17.99%
02/01UBS Adjusts Veritone's Price Target to $9 From $7, Maintains Neutral Rating
MT
01/31Veritone to Enact Cost-Cutting Measures Including Layoffs; Shares Rise
MT
01/31Veritone to Enact Cost-Cutting Measures Including Layoffs; Shares Gain
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Veritone Digital Media Hub Available in Arabic Through Partnership with OR Media's 'Orchard Clips' Business

11/22/2022 | 07:03am EST

Veritone’s AI-powered asset management and monetization solution selected by leading British documentary production company to power new clip-licensing business

Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform, today announced a new strategic partnership with OR Media, a leading British production company renowned for making high-profile documentaries and features films for major networks such as BBC, Discovery, Al-Arabiya, Al Jazeera English and more. Utilizing both Veritone Digital Media Hub—an AI-powered asset management and monetization solution—and Veritone aiWARE, OR Media has the technology it needs to establish Orchard Clips, its new clip-licensing business that helps both English- and Arabic-speaking broadcasters and filmmakers find, discover and license the footage they need in their preferred language.

“OR Media is delighted to be partnering with Veritone on this exciting new venture,” said OR Media CEO Adel Karim. “Given Veritone’s clip-licensing and AI expertise, it was the obvious choice for us. Ease of use, flexibility, cost and a keen understanding of the video asset world were some of the many reasons we partnered with Veritone, which delivers its technology with a fluid, out-of-the-box solution that layers in elements of bespoke requirements. We look forward to more opportunities to work together as we fulfill our mission to have talented filmmakers telling the most important stories to the biggest global audiences.”

Veritone Digital Media Hub is an AI-powered, white-label asset management and monetization solution that gives content owners the opportunity to generate more revenue from their assets. Connecting to cloud storage, users can set up their own branded digital storefront and start licensing valuable assets securely. With AI-powered metadata tagging and content management, as well as built-in rights management and sharing capabilities, users simplify content discovery for internal and external audiences while speeding the path to monetization.

Karim added, “As a leading producer with expertise in the Middle East, we see the lack of high-quality archival video clip content in the market and recognize the important role and opportunity in taking the lead. Through OR Media production teams across the region, Orchard Clips will be able to refresh its archive with new content and also ‘shoot to order’ to meet quick turnaround projects.”

“We are thrilled to partner with OR Media and, for the first time, make Veritone Digital Media Hub available in Arabic,” said Sean King, senior vice president and general manager, Commercial Enterprise, Veritone. “OR Media holds a vast collection of high-quality stock footage and other archive assets, with a particularly rich selection of HD footage from the Middle East. Prior to partnering with Veritone, OR Media’s archival content largely sat dormant. Now, with Digital Media Hub’s user interface, metadata and white-labelled e-commerce marketplace available in Arabic, OR Media can better serve their Middle East clients via Orchard Clips while activating assets and monetizing valuable content.”

From sports and athletic organizations to TV networks, studios, production companies and corporations, organizations using Veritone Digital Media Hub are able to get the most out of their valuable creative assets and never lose valuable resources. Hosted securely in the cloud, the Veritone Digital Media Hub portal enables collaboration and asset sharing, giving rights holders the ability to license content in-house through a simple e-commerce interface. In addition to Arabic, as well as English and German, Veritone will continue making Digital Media Hub available in other languages to serve customers around the globe.

To learn more, visit: www.veritone.com

About Veritone

Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.

To learn more, visit Veritone.com.

About OR Media

Founded in 1993, OR Media has a proud track record for producing award-winning films in a range of factual genres, from powerful BBC productions like Massacre at Virginia Tech and Make Me a New Face to hard-hitting historical investigations and current affairs stories. Known for its access, rigorous storytelling and editorial integrity, its values have been forged by working in sensitive environments across the globe. To learn more, visit https://ormedia.co.uk.

Safe Harbor Statement

This news release contains forward-looking statements. 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.


ę Business Wire 2022
All news about VERITONE, INC.
02/01UBS Adjusts Veritone's Price Target to $9 From $7, Maintains Neutral Rating
MT
01/31Veritone to Enact Cost-Cutting Measures Including Layoffs; Shares Rise
MT
01/31Veritone to Enact Cost-Cutting Measures Including Layoffs; Shares Gain
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01/31Veritone Advances Strategic Actions with Cost Reduction Initiatives
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Analyst Recommendations on VERITONE, INC.
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Financials (USD)
Sales 2022 151 M - -
Net income 2022 -40,8 M - -
Net cash 2022 10,1 M - -
P/E ratio 2022 -8,64x
Yield 2022 -
Capitalization 362 M 362 M -
EV / Sales 2022 2,34x
EV / Sales 2023 2,18x
Nbr of Employees 546
Free-Float 86,1%
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 9,97 $
Average target price 8,00 $
Spread / Average Target -19,8%
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Managers and Directors
Ryan S. Steelberg President, Chief Executive Officer & Director
Michael L. Zemetra Chief Financial Officer, Treasurer & Executive VP
Chad Edward Steelberg Chairman
Fleming Meng Chief Information Officer
G. Louis Graziadio Independent Director
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