Cumulus Media has formed a joint venture with media technology company Eon Media to develop and monetize AI-enabled audio projects, the companies said. The collaboration is focused on building AI-powered platforms designed to expand digital touchpoints for discovering and accessing audio content and to generate new consumer insights.
According to the companies, the partnership will support Cumulus Media’s portfolio of 395 U.S. radio stations and its digital assets by applying AI-powered technologies to help drive and measure audience engagement. Cumulus Media said its owned-and-operated stations, programs and personalities — including morning shows, talk shows and other spoken-word content — generate hundreds of thousands of hours of original audio each year.
Toronto-based Eon Media describes itself as a technology company focused on applying artificial intelligence to media. The company says its in-house AI tools are used to extract metadata from media assets, including segments, stories, categories, audio transcription, music recognition, people mentioned and demographic indicators.
Untapped monetization paths
Cumulus Media says the partnership is intended to help listeners discover content more quickly and connect with programming across multiple platforms, meeting audiences where they already consume audio.
Mary G. Berner, president and CEO of Cumulus Media, said, “We are excited to join forces with Eon Media to create innovative solutions that will provide Cumulus Media with access to new market opportunities and untapped monetization paths. Importantly, this partnership will significantly enhance our ability to drive greater discoverability. By expanding touchpoints and engagement opportunities, we ensure our listeners and audiences can connect with our content more easily and more often than ever.”
Ashish Agrawal, founder and CEO of Eon Media, said, “We are extremely thrilled and honored to partner with Cumulus Media to deliver truly unique ways to engage listeners, audiences and importantly unlock new deep insights, and monetization opportunities for all the internal stakeholders and stations — always ensuring transparency, content and data security using our fully in-house AI technologies in a responsible manner. This partnership has already been a very positive, refreshing and truly collaborative journey with Cumulus Media, which is at the forefront of changing the status quo. We look forward to what is coming next.”
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