India – Nov 21st, 2024: Magnifi by VideoVerse, an AI-driven video technology company and powerful video-editing SaaS platform, is honored to receive a Best of Emerging Technology Award for its contributions to live sports content creation and diverse fan engagement.
Supporting a global sports AI market projected to reach $16.7 billion by 2030, Magnifi is reshaping how content creators and broadcasters communicate and interact with sports fans and audiences worldwide. Its AI-powered technology automatically detects key moments in video and events, creating real-time highlights and short-form content. This allows enterprise-level content creators to enhance their production workflows and storytelling and unlock new revenue opportunities across multiple delivery platforms.
Celebrating the pioneers in sports broadcasting, the SportsPro OTT “Best of Emerging Tech” award recognizes Magnifi’s achievements in their recent processing of a leading European Football Club series, where its generative AI-powered graphics platform for creating compelling content was used to process millions of minutes of play and to connect global audiences through multi-language highlights. The highly respected OTT Sports Awards recognize outstanding achievements in the ever-evolving world of sports media and technology. With a focus on innovation, these awards celebrate companies that push boundaries in content delivery and viewer experience.
Amid surging demand for live sports streaming it was critical to focus on enhancing viewer engagement and catering to a diverse multilingual audience, along with delivering real-time content. Powered by Magnifi’s innovative technology, significant subscriber growth was achieved, marked by a 64% increase in total views, a 50% rise in users, and a notable spike in live views compared to the last season. This success extends to other clients as well, delivering a 70% reduction in manual costs and saving over 1.2 billion hours in video processing time.
“We’re thrilled to receive this award, a testament to the trust our customers have in us and our cutting-edge technology,” said Ritu Bain, SVP of Magnifi. “This recognition is truly a win for our dedicated team and a celebration of our shared passion for innovation, constantly redefining what’s possible in live sports broadcasting.”
Tailored for live sports and other high-engagement events, Magnifi’s technology automatically identifies key moments, clips them into short, engaging formats, and uses ball-tracking AI to keep the action front and center. It even rates clips so editors can quickly find standout plays. Clips can be inserted into web story templates and published on websites or social media. To captivate a wider audience, content can be auto-translated into regional languages.
About Magnifi by VideoVerse
Magnifi with its award-winning technology has found an extremely strong product-market fit in serving enterprises across numerous industries – OTT players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms, schools, colleges and more. Magnifi is building the next-generation video editing ecosystem addressing a broad range of use cases in the post-production process. The company specializes in generating instant key moments and auto short-sized videos enabling content rights holders to increase their presence and viewership. Magnifi works with leading rights holders/owners including the Indian Premier League, Women’s Premier League, Pro Panja League, TV2 Norway, Vietnam Basketball Association, Portugal Football Federation, Clubber TV, SuperSport Schools, Professional Squash Association, The Cowboy Channel and other leading sports broadcasters globally.
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