Israeli company Minute.ly, which develops video analysis technology, today unveiled its new capabilities, including an artificial intelligence (AI) algorithm that analyzes live broadcasts in real time and generates summaries during the broadcast that substantially increase viewer rates. The technology was used in the World Cup soccer tournament in Russia. The company says it increased exposure to live broadcasts by over 10%.
Minute.ly, founded in 2013, has penetrated many broadcasting companies in recent years, while keeping a low profile. During the 2018 World Cup, Minute.ly signed a number of cooperation agreements with major global sports websites. During live broadcasts, hundreds of millions of viewings were analyzed and the number of new users consuming the live broadcasts grew 13% following use of the company's products.
Minute.ly cofounder and CEO Amit Golan told "Globes" that his company had signed agreements with all of the major sports companies and leagues in the US, although he was not authorized to disclose their names. "Our logo appears in all of their broadcasts. We are gaining exposure now for the first time with a series of new products that will be revealed in the coming months. Our strategy was to wait, grow, and get a product that was massive, significant, and at the scale stage to begin telling a bit more about the products and soon about the consultants that are joining the company."
Minute.ly's technology makes it possible to generate an automatic index of all the video content on the customers' websites and to build a segmented film archive adapted to the customers' interest. The company is capable of inserting teasers into the original video, which increases the number of people viewing the video and also automatically builds a global summary of every video broadcast on the network over the past week in sports, news, economics, etc.
The company's new product is capable of analyzing the viewers' interest in the broadcast material. "We're at a junction of technology, content, and human psychology. We're learning what people pay attention and respond to, and we rate the viewers' interest according to this," Golan explains. "We understand what we see in each shoot and frame, use machine learning and deep learning at the video processing level, understand what the content is and what it's about, and use all of it to generate a lot of interest in the video."
Analysis of live broadcasts is one of a number of products offered by Minute.ly based on a unique core technology that organically connects the website owners and end consumers. The company's products make it possible to increase the number of monthly video viewers, while creating a new video-based revenue model. The company's technology is currently deployed on dozens of sports, news, and entertainment websites, including some the largest websites in the US. It reports a 37% rise in profit margin on video content.
As of now, Minute.ly has launched two products, including a "preliminary display of smart video" that generates effective five-second teasers for increasing click-through rate (CTR) by an average of 300% and Top Videos, which automatically displays the best performances on the video broadcast, provides users with video recommendations, and increases distribution of the video on the content websites.
Minute.ly has 33 employees in Tel Aviv and is currently establishing its US branch.
Published by Globes [online], Israel business news - www.globes-online.com - on August 14, 2018
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