Dublin and New YorkVISUA, based on the platform, aims to change the face of sports sponsorship evaluation at scale through a new approach to the analysis of broadcast data
DUBLIN and NEW YORK , April 282022 /PRNewswire-PRWeb/ — VISUA, a leading visual AI company, seeks to drive the next generation of sports sponsor valuation analytics at scale through new business partnerships enabled by key innovations in its Visual-AI (Computer Vision) technology stack.
The sports sponsorship industry is poised for accelerated growth as we emerge from the COVID pandemic phase, with a projection $501.43 billion in 2022 (representing a CAGR of 41.3%). The majority of this spending (~80% of it) will be on TV and digital broadcast rights.
But the industry faces a persistent problem. The first is to report value and ROI to sponsors with the same level of accuracy and forensic detail that other channels, such as digital advertising, can provide. Research points out that most sponsorships are inefficient from an ROI perspective and that 68% to 88% of all sponsorships are ineffective. Over the years, little has changed in the way sponsorships are evaluated, and many sponsors continue to struggle to accurately measure ROI. Mainly because of a lack of precise data. The second problem is that of cost. Accumulating all the required information from this vast source of unstructured data has a high initial cost. The parties concerned were therefore content to analyze individual matches rather than the whole league for the whole season.
For the first time, VISUA aims to help solve both problems through innovations in its technology offering that simultaneously enable new and innovative business models to be agreed upon, enabling large-scale analysis of broadcast sports content in a partnership model.
Traditional approaches to analyzing the value of sponsorship for broadcast and streaming channels have involved two approaches. Content sampling allowed rapid processing of evaluation reports at low cost, but relies on inferences and assumptions, and is therefore not ideal. The alternative approach is to use humans to manually analyze the images and annotate the prints, which is expensive and time-consuming.
VISUA, co-founder and CTO, Alessandro Prest explains, “Sponsors want accurate data about their broadcast and team sponsorships, just like they get from their other marketing and promotion channels. So giving them partial information about a subset of matches won’t be enough. simply more while millions of dollars are on the line. It’s fair to say that brand impression monitoring isn’t the only data point in a comprehensive set of monitoring tools, but it is a point of key data, so it needs to be accurate. That’s why VISUA has worked to deliver our latest generation of visual AI that enables comprehensive frame rate analysis of large-scale video content, which matches the analysis human, but exponentially faster and at a much lower cost.”
Due to the efficiency of Visual-AI technology, VISUA seeks to engage with partners in a way that is entirely different from other companies in this space.
Luca BoschinVISUA, Co-Founder and CEO, adds, “The traditional customer/supplier relationship stifles the ability to provide full and comprehensive information to sponsors in this space. Rather than being asked to analyze a small number of games for a team, we want to work together with interested partners to process every game, in every league, in every sport, in every country.Together we can establish a data resource that can benefit all sponsors at once.
Estimates further show that female esports sponsorship increased by 146% and esports by 26% year-on-year. The costs involved in providing complete and accurate information in these and other emerging areas have been prohibitive to date, but are now possible with this new approach.
Luca concludes: “We are looking for sports sponsorship agencies and monitoring companies to partner with us to drive this new era in data analysis for evaluation insights. The old approach is no longer suitable. In the age of digital and AI, it’s time for stakeholders to collaborate in new ways to deliver the kind of information sponsors need.”
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VISUA features best-in-class visual AI that powers the world’s leading brand protection, authentication and monitoring platforms. VISUA provides technologies such as logo/brand detection, text detection, object and scene detection and visual search, which are used by the world’s largest companies for applications as varied as sponsorship monitoring sports, brand monitoring and phishing detection, holographic authentication and counterfeit products. detection. Its Visual-AI technology has been proven to deliver the highest accuracy with instant learning, at unlimited scale, and is adaptable to any use case. VISUA believes in People-First AI, they see a world where Visual-AI will lift humanity out of the mundane, empowering a society that focuses more on creativity and collaboration and less on binary tasks, and empowering services and solutions that humans alone simply can’t deliver.
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Franco De Bonis
Franco De BonisVISUA, 353 1 558 3155, [email protected]