PR Newswire
LOS ANGELES, Dec. 18, 2024
Publishers with Large Film & TV Libraries – and Tech Companies Looking to License Video Content to Train AI Models – can Engage Cineverse to Secure & Monetize AI Content Rights
LOS ANGELES, Dec. 18, 2024 /PRNewswire/ -- Cineverse (Nasdaq: CNVS), an innovative next-generation entertainment studio, today announced the launch of Matchpoint Reel Visuals AI – a new revenue-driving artificial intelligence (AI) rights management service.
Reel Visuals AI empowers those who own libraries of feature films, television shows and podcasts to take advantage of growing demand from AI companies to acquire audio/video content to train artificial intelligence models at scale. Through a unique non-exclusive revenue-sharing offering, Cineverse will ensure that content creators and rights holders – from independent production companies and large global studios to AI training rights agents and content aggregators – are compensated for use of their video content in AI training while also eliminating the associated delivery costs that often make the opportunity to profit in this space unviable.
Through the power of Cineverse's Matchpoint™ technology suite, content partners can benefit from added efficiencies, such as the ability to quickly ingest, normalize, deliver, and store large volumes of video content with integrated rights management capabilities. Unlike data brokers and licensing agents that are actively pursuing these AI training rights, Cineverse provides a complete end-to-end solution from an established distribution partner that eliminates their delivery costs resulting in higher profit margins and a faster time to market.
Cineverse is actively licensing AI rights from third-party content owners who control large film and TV catalogs. To date the Company represents AI training rights for more than 350,000 hours of video and audio content. More information can be found at reel-visuals.ai.
"With Reel Visuals AI, we are helping to ensure that those who control the underlying rights to film and TV shows that are used to train LLMs are compensated fairly while utilizing our technology to reduce their costs," said Cineverse Chairman and CEO Chris McGurk. "Putting content owners first is paramount to all of our AI offerings, from cineSearch, which will help get their content discovered and surfaced above the noise of so many streaming choices, to end-to-end solutions that help monetize their AI rights by providing an avenue for them to benefit from the value of their assets on an opt-in basis."
According to a recent report by Grand View Research, the global AI training dataset market was valued at USD 2.60 billion in 2024 and is projected to reach USD 10.31 billion by 2030, growing at a CAGR of 21.9% during the forecast period. This significant growth underscores the increasing demand for high-quality data to train AI models across various industries, including the film and television industry.
Added Cineverse COO and CTO Tony Huidor, "As a pioneer in aggregating and delivering video since the advent of streaming, we are stepping into an important leadership role by establishing a much-needed framework that will ensure that intellectual property rights are respected and content owners are properly compensated. It is imperative that we not only work to resolve emerging market issues but also advocate for ethical AI content procurement practices by pursuing equitable compensation for the use of video in AI training. With Matchpoint, we are uniquely positioned to leverage our distribution expertise and proprietary technology in a way that provides benefits through Reel Visuals AI in this fast-emerging market."
Reel Visuals AI is part of Cineverse's broader AI initiatives announced this year, highlighting the company's focus on innovation in machine learning. Cineverse has also developed cineSearch, its AI-powered content discovery tool recognized by Media Play News in this month's cover story "2024's Top Transformative Triumphs in AI", calling it "a gamechanger [that] redefines how viewers discover movies and TV shows." Additionally, partnerships with AI leaders like XL8 brought AI-driven captioning and localization to the Matchpoint platform, enhancing accessibility and personalization for global audiences. These advancements, among others, position Cineverse as a leader in AI-driven entertainment discovery and distribution.
About Cineverse Technologies
Cineverse develops technology that powers the future of entertainment. It's proprietary Matchpoint™ suite of streaming technology and AI tools – first utilized to manage the company's owned-and-operated services is now offered to third parties as a SaaS solution – supports filmmakers, media companies, streaming platforms and OEMs. cineSearch, the AI-powered search and discovery tool for film and television, makes deciding what to watch as entertaining as the entertainment itself. Additionally, the C360 programmatic audience network and ad-tech platform provides brands the opportunity to target and reach key fandoms wherever they are.
About Cineverse
Cineverse (Nasdaq: CNVS) is a next-generation entertainment studio that empowers creators and entertains fans with a wide breadth of content through the power of technology. It has developed a new blueprint for delivering entertainment experiences to passionate audiences and results for its partners with unprecedented efficiency, and distributes more than 71,000 premium films, series, and podcasts. Cineverse connects fans with bold, authentic, independent stories . Properties include the highest-grossing non-rated film in U.S. history; dozens of streaming fandom channels; a premier podcast network; top horror destination Bloody Disgusting; and more. Powering visionary storytelling with cutting-edge innovation, Cineverse's proprietary streaming tools and AI technology drive revenue and reach to redefine the next era of entertainment.
For more information, visit home.cineverse.com.
CONTACTS:
For Media, The Lippin Group for Cineverse
[email protected]
For Investors, Julie Milstead
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SOURCE Cineverse Corp.
