Crowd Media Extends Talking Head Partnership with SrcFlare
Melbourne, Sep 19, 2022 AEST (ABN Newswire) - Crowd Media Holdings Limited (
ASX:CM8) (CM3:FRA) is pleased to announce it has extended its agreement with media search company SrcFlare after successfully delivering a Talking Head Proof of Concept which:
- Generated more than USD $100k revenue for Crowd Media in 3 months
- Validated the application of conversational AI to reduce online lead generation costs
- Extended the agreement with SrcFlare with expectations of material revenue growth
As announced on 17 May 2022, Crowd Media and SrcFlare entered a binding Heads of Agreement (HOA) to integrate Crowd's technology into SrcFlare's marketing platform to optimize customer acquisition funnels and lead generation. The 3 month Proof of Concept (POC) resulted in USD $101,958 generated for Crowd Media over the period.
Utilized in limited capacity across a smaller sample of SrcFlare clients, Crowd Media and SrcFlare have validated a mutual belief that there is a larger revenue opportunity in the media search space by upscaling the POC and applying conversational AI in higher volumes.
As an extension of the current agreement, Crowd Media and SrcFlare have entered into a new binding HOA where the two companies will extend the POC for a further 3 months with increased budget guidelines, These revised terms will increase the budget allocation applied by SrcFlare towards the POC in its application of customer acquisition and online lead generation.
To accommodate the increased volume of traffic under the HOA extension, the licensing fee payable to Crowd Media will increase to USD $55,000 for 3 months ending 30 November 2022. Under the same terms as the previously signed HOA, it will include a non-exclusive and non-sublicensable licensing fee for access to Crowd's Talking Head platform, as well as ongoing service operation and support.
Crowd Media CEO, Idan Schmorak commented: "The media search industry is ripe for changes in business practices where 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 SrcFlare clients."
SrcFlare CEO, Gilad Cohen commented: "It has been exciting to see the results delivered since integrating Crowd Media's technology into the SrcFlare platform as an opportunity for businesses to gain a competitive edge when it comes to engaging prospective customers. The results to date have been promising so we look forward to scaling this tech which enables businesses to revolutionize how they engage with prospective customers in such a competitive landscape."
About Unith Ltd
Unith Ltd (ASX:UNT) is a leading digital human brand. It unifies the research and development of facial movement deep learning, audio machine learning, and conversational design (NLP) to generate the first customizable, interactive avatar of its kind.
Businesses can create their own digital humans to immerse, assist, and educate customers in real time and in multiple languages, all through one full stack platform. For further information, please visit: unith.ai
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