Veritone has renewed its content licensing agreement with the Pac-12 Conference to continue serving as the sports organization’s licensing partner for several more years.
The agreement covers the conference’s historical archive along with footage produced during current athletic seasons, Veritone said in a press release.
Veritone will manage the library through its Commerce Digital Media Hub platform, which allows third-party licensees to search, review and purchase footage. Pac-12 content will be available for use in digital highlights, editorial coverage, documentary productions, advertising campaigns, branded content and scripted entertainment.
Financial terms of the agreement were not disclosed.
The renewal comes as the Pac-12 begins a new chapter following its reorganization. The conference relaunched this summer with nine full-time members: Oregon State, Washington State, Boise State, Colorado State, Fresno State, Gonzaga, San Diego State, Texas State and Utah State.
Oregon State and Washington State remained with the Pac-12 following the departure of most of its previous members, while the other seven institutions joined as part of the conference’s rebuilding effort.
Dustin Rocke, the Senior Vice President of External Affairs at the Pac-12, said the renewed agreement will help the conference distribute footage from both its legacy institutions and incoming members to media companies and other potential licensees.
“This renewal helps ensure that the rich history of our conference, as well as the top-level action of our new member institutions, will continue to reach global audiences,” Rocke said.
The agreement gives the Pac-12 another opportunity to generate revenue from archival and newly produced content as demand for sports footage grows across streaming services, social platforms, documentaries and advertising, Veritone noted.
Ian Retzlaff, the Vice President of Sports Media and Commercial Partnerships at Veritone, said collegiate sports organizations are increasingly looking for ways to improve access to their media libraries while creating additional commercial opportunities.
“We are currently witnessing an explosion of sports content across the global media landscape, and collegiate athletics is at the forefront of this increased demand,” Retzlaff said in a statement. “The Pac-12 has proven to be an incredibly innovative and forward-looking organization that understands the massive opportunity this content presents. We are thrilled to extend our partnership to help them capitalize on their highly valuable media assets, drive new revenue streams, and deliver transformative value for their member institutions and student-athletes.”
Veritone has similar content licensing agreements with a number of other recognizable organizations, including ESPN, CBS News, the NCAA, the Washington Post, U.S. Soccer, Audacy and the U.S. Air Force. Its technology infrastructure partners include Amazon Web Services, Google Cloud, Microsoft, IBM and Oracle.
