Global sports marketing group Infront has acquired a stake in Minute.ly, an artificial intelligence-driven video enhancement company, with a strategic focus on providing rights holders with the company’s automated video technology.
According to Venturebeat, Minute.ly has raised $8m (€7.1m) in their latest funding round, with participation from Infront and current investor Gilad Shabtai.
Minute.ly’s AI creates exciting shortened clips from hundreds of real-time or recorded videos within seconds, and is even able to crop landscape footage to portrait automatically, which allows users to reuse previously recorded footage for a better mobile experience. This helps publishers make the most of their content inventory.
Amit Golan, CEO and co-founder of Minute.ly said: “In today’s highly competitive market, Minute.ly gives publishers and content creators the tools they need to make the most of their video inventory, maximize revenue, and cut back on costs. This investment will enable us to continue to develop and scale our technology — already at the forefront of the online video revolution — helping bring more publishers and content creators into the video age.”
Minute.ly claims that it can boost a livestream audience by 13 per cent and advertising revenue by up to 37 per cent, and says it’s been used by “top broadcasters” like the 2018 Russia World Cup and other sports, news and entertainment websites.
Golan said: “By 2020, streaming video will contribute to 80% of online traffic. That’s a lot of competition, and most publishers won’t generate enough video revenue to cover expenses,” said Golan. “Our product helps their chances … Through our first of its kind deep video analysis and crowdsourcing technology, we automatically discover what pieces of content truly engage users through real-time personalized experience. We can identify and create the most engaging previews to drive user engagement.”
Christian Mueller, Infront’s vice-president of strategy & business development, said: “Minute.ly’s technology will allow current and future clients to reach more fans around the world, optimising marketing efforts in an efficient and reliable way to generate new revenue streams. Collaborating with a start-up aligns perfectly with our strategy of focusing on innovative client-orientated solutions.”