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October 28, 2022

Veritone’s Sport X is TikTok for media buyers

Social media is providing new opportunities to use user-generated content to drive interest in traditional sports broadcasts.

By Sportcal Editorial Team

Enterprise artificial intelligence (AI) company Veritone recently announced a new sports-driven short-form content marketplace called Sport X. The marketplace will connect sport content owners and producers, including sports federations, with a network of media buyers. Sport X will solve media rights issues and uses AI algorithms to provide personalized content suggestions to media buyers.

As media competition intensifies, innovative content is necessary to engage with fans and attract or keep contracts. Traditional broadcasters are experimenting with augmented reality (AR) to keep up with current trends and provide stimulating content. Sport X will enable traditional broadcasters to find exactly what they are looking for and invest in short-form videos from different sources, enhancing their content offering for fans.

The platform will allow social media content to be integrated into traditional TV broadcasting feeds more seamlessly. This will upgrade content, engage with younger fans, and pave the way for futuristic sport broadcasting, which could include tailored broadcast and social media feeds. Media and broadcasting companies must diversify their content to remain attractive in the market, particularly with the rise of short-form videos on social media and streaming platforms. 

Outlets are investing in new technologies to create engaging content. For example, augmented reality can create interactive graphics and statistics integrated into live coverage. Short-form video also provides interactive clips of topics, using different perspectives and behind-the-the-scenes footage.

Sport X’s short-form content marketplace provides an accessible and personalized way to integrate short-form video into media and broadcasting coverage. It allows clips from different sources to be integrated seamlessly into coverage, depending on the licensing parameters outlined on the Sport X platform. 

Integrating short-form video social media clips into broadcasting coverage of sport will shake up the traditional broadcasting model and engage younger fans who are used to short-form video content on social media. Sport X is the first step. In the future, the traditional broadcast model could be disrupted further to include broadcast feeds with personalized content and social media integrations.

The Sport X marketplace operates in a similar way to TikTok, but for business-to-business interactions, providing enterprises with a similar experience to consumers but with a very different purpose. Content creators, or ‘sellers’, post short-form video content, and a network of buyers will purchase the video content for their use. In a similar way to TikTok, certain content will be pushed to buyers via personalization algorithms. This AI operating system is called aiWARE and is a proprietary AI engine created by Veritone.

The marketplace allows buyers, namely media broadcasters, to gain access to rights-cleared content. The platform is free for content suppliers and federations, and a number have already signed up, including ATP Media, Euroleague basketball, and SNTV.

Athletes and sports teams are already using TikTok to engage with fans, endorse sponsors, and create new behind-the-scenes content. TikTok is also a major sponsor of several sports teams, leagues, and championships, including rugby’s Women’s Six Nations. It has been a pioneer of short-form user-generated content, and many other social media platforms have followed this sharing model.

However, TikTok’s content rights are confusing. Content creators technically own the rights to the content they have created, but the platform’s end-user license agreement allows it to share users’ content. Sport X promises to solve the problem of licensing challenges, allowing media buyers to “gain access to premium, rights-cleared content,” which is “clearly delineated for their use.”

Veritone’s new marketplace allows content owners to diversify revenue streams and gives media buyers the opportunity to easily diversify their content offerings from different sources. The platform gives media outlets more choices, improving experiences for fans, and integrating short-form videos into coverage. This will allow social media clips to be integrated into traditional broadcast sports coverage, attracting younger viewers with more engaging and relevant content.

If trends are to be believed, younger audiences are less engaged with traditional sports content on traditional platforms. Leagues like the NBA have managed to bridge that gap by engaging younger audiences on popular social media platforms. By being less rigid with clips and allowing fans to engage with both game content and each other, they are capturing a greater share of the voice and audience.

In the future, most sports leagues and broadcasters will have to find ways to integrate this content into their live feeds to replicate this online experience. Interactive and personalized tailored viewing feeds could become the next big thing since over-the-top streaming.

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