Crowd Media and SourceFlare extend Talking Head collaboration
SourceFlare chief executive officer Gilad Cohen says it has been “exciting to see the results” since integrating Crowd Media’s technology into the SourceFlare platform.
After finalising an initial three-month proof of concept period with Israeli data tech company SourceFlare, Crowd Media (ASX: CM8) revealed the duo has extended the agreement another three-months.
The proof of concept involved integrating Crowd Media’s Talking Head conversational AI technology into SourceFlare’s marketing platform to optimise customer acquisition and lead generation.
Crowd Media confirmed the integration of technology from both parties under a binding heads of agreement signed in May had generated more than $149,000 in revenue for the period and fostered a mutual understanding of a “large revenue potential”.
Crowd Media and SourceFlare have committed to technical and commercial feasibility to continue their partnership and grow cycles in the media search operation and talking head technology usage.
The companies have since extended the proof of concept for an additional three months to the end of November and increased the marketing budget.
To accommodate the expected increased traffic under the agreement extension, the licencing fee payable to Crowd Media will rise to around $81,400 for the three months.
Heads of agreement
In May, Crowd Media and SourceFlare signed a deal to integrate Crowd’s talking head technology into the SourceFlare marketing platform.
As part of the agreement, SourceFlare agreed to waive licencing fees for access to its platform which will be utilised by Crowd Media’s mobile subscriptions business for the purpose of B2C (business-to-customer) client acquisition.
Crowd Media was be responsible for any media buying expenses incurred on the platform.
Proof of concept
Under the terms of the agreement, Crowd Media was to develop a proof of concept which leveraged the talking head platform to apply conversational AI to the media search sector.
Following the initial three-month period, Crowd has agreed it would advance the technology through a ‘scale up’ phase where digital avatars would generate engaging content to promote customer acquisition funnels and optimise lead generation for SourceFlare clients.
The AI-powered avatars would be applied to unique marketing campaigns in multiple languages, and be interactive with internet users.
Building on synergies
Crowd Media chief executive officer Idan Schmorak said the media search industry is “ripe for changes in business practices”.
“The amount of business being done through search engines is exponentially larger than it was a decade ago, and with it comes opportunities for disruption.”
“By introducing conversational AI as an alternative means of interaction, the proof of concept has validated our thoughts in a short period of time, so we look forward to upscaling our tech to generate more leads at lower acquisition costs for SourceFlare clients,” Schmorak said.
Meanwhile, SourceFlare chief executive officer Gilad Cohen said it had been “exciting to see the results” since integrating Crowd Media’s technology into the SourceFlare platform.
“The results to date have been promising so we look forward to scaling this tech which enables businesses to revolutionise how they engage with prospective customers in such a competitive landscape,” Mr Cohen added.