Media Distillery, which provides AI technology to help TV and video companies understand what’s contained in large amounts of video content inside video, in order to serve up more relevant content, has secured a €3m investment from a group of entrepreneurs and executives from the international TV and broadcast industry. The funding will be used to fuel the company’s international expansion and and to scale the research and development teams working on more complex, next-generation content discovery solutions.
Based in Amsterdam, Media Distillery was founded in 2014. Last year, it analysed more than 7.5m hours of video content using its Deep Content Understanding technology, which it said is impacting over 40m viewers globally on a daily basis.
The video industry has experienced a tremendous shift in consumer behavior over the past five years. Research shows that in 2020, the average streaming household used 3.3 video streaming platforms.
To empower platform providers to enhance the content discovery functionality and creating a ‘linear on demand’ experience, Media Distillery’s cloud-based tech analyzes video content to determine relevant topics, events or specific time markers in real-time. The technology is used by video platform providers including Telenet in Belgium, YouSee in Denmark, Eutelsat in France, Proximus in Belgium, and VTR in Chile.
“The commercial potential of creating a ‘sticky’ video environment is enormous when consumers are engaged to a video platform that is personalized to one’s interests and when they can discover relevant content in the blink of an eye,” said Media Distillery CEO, Roland Sars. “Media Distillery’s use of AI technology to tackle these matters and gives video platforms the opportunity to set themselves apart from competition and boost viewership metrics.”