Veritone to license ESPN’s NCAA championships audio archive

DENVER - Veritone Inc. (NASDAQ:VERI), which has seen its stock surge over 50% in the past week and maintains a market capitalization of nearly $400 million, has reached an agreement with ESPN to license the sports network’s archive of audio content from NCAA Division I Championships, according to a press release issued Tuesday. InvestingPro data shows significant momentum in the company’s shares, with multiple analysts recently revising earnings estimates upward.

The partnership will enable ESPN to monetize its audio archives by providing content creators, including advertisers, documentary filmmakers and production companies, access to audio from telecasts of collegiate sports games, post-game interviews and crowd reactions.

Veritone’s platform will make ESPN’s library content discoverable and easier to license, creating a centralized solution for content creators seeking high-quality sports audio. The agreement includes approval rights that allow ESPN to maintain control over its content and brand.

"This collaboration allows ESPN to monetize its vast library, while also empowering content creators to tell richer, more engaging stories," said Ryan Steelberg, CEO of Veritone, in the press release statement.

The Denver-based company specializes in enterprise AI solutions that help organizations transform static archives into revenue streams. Veritone’s technology uses AI to organize and make searchable large media libraries.

The financial terms of the agreement were not disclosed in the announcement.

Veritone, which trades on the Nasdaq, provides AI-driven solutions to clients in media, entertainment, public sector and talent acquisition industries.

In other recent news, Veritone, Inc. announced the pricing of a public offering of common stock, expecting to generate approximately $25 million in gross proceeds. The offering includes 9,505,705 shares priced at $2.63 per share, with an option for underwriters to purchase an additional 1,425,855 shares. The company plans to use the proceeds for working capital and general corporate purposes, including debt service. D. Boral Capital recently raised its price target for Veritone to $26 from $6, maintaining a Buy rating, driven by optimism about the company’s VDR engine technology. Additionally, Veritone amended its Credit and Guaranty Agreement to adjust its liquidity requirements, increasing the minimum consolidated liquidity to $15 million starting September 13, 2025. D. Boral Capital also assumed coverage on Veritone with a Buy rating, emphasizing the company’s growth trajectory and the momentum of its Veritone Data Refinery platform. Needham and Company is managing the public offering, which remains subject to market conditions. These developments reflect a period of strategic financial adjustments and positive analyst sentiment for Veritone.

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