With its headquarters in California and sales office in New York, WowYow sits at the intersection of media, advertising and technology. The company’s AI tech identifies, indexes, searches and monetizes video & images, creating new revenue streams as well as increasing the value of publisher video content. WNIP talked to WowYow to find out more…
Can you give us some background about your company?
Founded in 2016, WowYow is a visual AI company applying its proprietary AI and visual search technology to visual content.
It’s simple, seamless, and offers feature-rich capabilities that connect the content goals of WowYow’s three key stakeholders: publishers, advertisers and viewers. This transformative approach to search and advertising creates new revenue streams, and increases the value of video content for our diverse user base – all in one platform.
Our founder and CEO Adam Boskovich is the tech-visionary behind the AI, while Jarett Boskovich Co-founder CMO of the company leads our marketing and sales efforts on the East Coast. They are accompanied by Michael Ramirez, Co-founder and CSO as well as a distinguished group of advisors who are experts in media, tech, advertising and banking.
What business problem is your company addressing?
There are three main problems WowYow aims to solve:
1. Video content has a search problem: there is no way to answer questions audiences have during the viewing experience.
2. Video search has an indexing problem: users and companies can only search videos by title or manually tagged keywords.
3. Video has an advertising problem: current monetization is limited, intrusive and irrelevant.
What is your core product addressing this problem?
Our solution is WowYow’s proprietary Visual AI technology that automatically identifies, indexes, searches and monetizes everything seen. Therefore, video search is driven by visuals rather than manually input text. This is a problem for publishers and advertisers because it’s a hole in the market. Not monetizing visual images and videos is a loss of money where companies could in fact be growing their ROI.
WowYow’s Visual Search has an 8.5% engagement rate across all video verticals & publishers (comparable CTRs for a banner 0.001%; pre-roll 0.8%); Our automated indexing averages 10-50 new & unique data points per 1 min of video; Our tech creates a significant increase in ad opportunities per video and uses more relevant advertisements to increase revenue for publishers.
Can you give some examples of publishers successfully using your solutions?
Our publisher verticals include: Sports, Lifestyle, Film & Entertainment, News. There are over 2000k Brands in the WowYow Ad Network.
Advertisers pay WowYow for impressions, web traffic, sales, etc, whilst media companies and marketers pay us to analyze video & images.
What are other people doing in the space and why?
I think this graph says it better than we ever could!
How you do view the future?
WowYow is designed to be scalable, and the long-term vision is to extend our functionality for use with a variety of visual mediums, including:
- OTT & Connected Television
- Gaming consoles
- Augmented reality
- Virtual reality
Recently we released our AI technology for images in addition to video capabilities. The press release can be viewed here.
Anything else we should know about?
There are 3.8B text searches each day, yet no way to answer the questions that people have when watching videos. WowYow answers those questions by indexing what’s inside a video or image and allowing users to search. It is easy to deploy, seamless, and offers feature-rich capabilities which connects users to answers, and provides an entirely new revenue stream for publishers.
By adding one line of code to a publisher’s site(s) and apps, WowYow automatically analyzes every video within any video player and creates up to 80 new and unique data points per one minute of video. With the creation of new deep-video-metadata, WowYow is able to generate new ad inventory and instantly unlock the content’s previously untapped searchability, marketability and profitability.
WowYow’s entry into the marketplace comes at a moment of huge potential to disrupt the digital media space. Grand View Research projects that the global image recognition market will reach a value of $77.69B by 2025, and Cisco projects that 82% of internet traffic will be video traffic by 2022. WowYow’s goal is to capture a 1-2% share of the current multi-billion dollar search market while simultaneously creating a new visual search market altogether.