Cumulus Media (CMLS): Using Analytics Company, Veritone, to Boost Advertising

Stephen L Kanaval  |

Cumulus Media Inc. (CMLS) owns and operates 517 radio stations across 109 markets. The company generates revenues from advertising on those stations. A few of the major brands in the bunch are WestWoodOne, Right Now Traffic, and CBS Sports Radio. CMLS’s terrestrial radio stations can offer exclusive content with a high level of exposure.

Years ago, Cumulus entered the iHeart Radio platform to reach more listeners and diversify its platform reach. The company has a presence in 8 out of 10 markets and has existed as a consolidator in the industry for a while now. The company also owns SweetJack, a daily deals website similar to Groupon that is also present in many US markets. Cumulus competes with Pandora and Spotify by penetrating many markets with a diversity of brands and sales core that is experienced in competitive environments

Cumulus has now teamed up with Veritone, Inc. a cloud-based artificial intelligence analytics company. CMLS will work with Veritone to analyze its programming to improve advertising and measure efficacy. “We were seeking a solution that could index and analyze our broadcast programming, to provide our advertising partners with increased visibility, transparency and accountability,” said Chad Lopez, Vice President and Market Manager, Cumulus Media New York. "The combination of Veritone’s cloud-based indexing and storage solutions, coupled with its powerful search and discovery capabilities, made Veritone the only choice for us to extend customer engagement.”

Veritone will analyze countless hours of audio and analyze audience analytics and content. The market has seemed to like the move by Cumulus and has trended upward today.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
CMLS Cumulus Media Inc. 15.70 0.49 3.22 79,840 Trade

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     

INTERVIEW: CEO Jorge Fernandez - iBlades

Equities.com's Sam Mitchell interview iBlades CEO, Jorge Fernandez