Waymark has signed a deal with Fox to supply its AI-based video-creation technology to 29 Fox owned-and-operated TV stations in 17 U.S. markets.
Waymark's generative-AI software tool automatically produces TV commercials and voiceovers for clients using already created assets, lowering a key barrier to entry for smaller advertisers looking to reach audiences via broadcast TV.
The startup's tools have already been deployed by Spectrum Reach, Gray Television, Beasley Media Group and Morgan Murphy Media.
“Video advertising for many has been perceived as expensive and out of reach," said Jason Sirek, VP and general sales manager for Fox-owned KMSP-WFTC Minneapolis-St. Paul, in a statement. "Now, this innovative product gives our local sellers a tool they can add to their arsenal to generate new business in the OTT/CTV and linear space, while helping local businesses better visualize how they can utilize the power of video to tell their story.”
Next TV witnessed a demonstration of Waymark’s technology at NAB Show in Las Vegas in April. Creating a prototype commercial for a local coffee shop, the artificial intelligence tool was able to scour the internet for the business’s website and any other associated marketing material, creating a serviceable 30-second spot for the coffee shop within minutes that could be sweetened and customized as needed.
Founded 13 years ago, Waymark has been privately funded with $4.5 million, according to Crunchbase. It markets the tool to clients like Charter Communications and Gray Television with the pitch that it will open up TV advertising to smaller clients who don't have the resources and know-how to create their own commercials.
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!