Broadcaster SCA has become an early stage investor in Melbourne-based Sonnant, an artificial intelligence (AI) and machine learning company with content discovery for the spoken word.
The commercial details of the investment haven't been revealed.
Consumption of digital audio is growing in Australia and is expected to reach 80% of the population by 2024 and SCA’s recent launch of LiSTNR is designed to be a best in class consumer digital audio experience.
SCA’s in-house technical capability will be enhanced by Sonnant’s AI intelligence, providing an in-depth of understanding of SCA content that allows for rich meta data and exciting new user experiences.
Sonnant allows SCA to enhance the key product pillars of LiSTNR delivering a personalised experience to each user based on the topics they most enjoy listening to.
This aids discovery and recommendations as well as enhancing the accessibility of LISTNR’s audio, so it can reach new Australian audiences with its premium shows.
“SCA is a proud supporter of the Australian entrepreneurial ecosystem, so when we found a company of Sonnant’s calibre in Melbourne, we knew that an investment partnership would provide significant long term value to both parties,” says SCA Head of Digital and Innovation, Chris Johnson.
“We were delighted when Sonnant’s tech outperformed several ‘off the shelf’ products we pitted it against in testing. Even better that they were right in our own backyard! The partnership demonstrates our commitment to not just delivering engaging digital products but building the technical capabilities that power market leading platforms today.”
Sonnant CEO Tony Simmons: “Technology now allows us to do things with the spoken word that was merely science fiction a few short years ago. Sonnant has long recognised that the consumption of audio, especially the need for better audience discovery of relevant content with podcasts, can greatly benefit by our exacting AI processes.
“Importantly, by applying Sonnant’s machine learning, SCA will reduce manual processes and SCA customers and advertisers will experience more precise results in a shorter period of time. We are very excited for the opportunity to work with Australia’s pre-eminent media organisation to create even better listener experiences and a high degree of engagement.”
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