SAN
JOSE, Calif., June 25,
2024 /PRNewswire/ -- XL8, a leading deep-tech
startup specializing in AI-powered machine translation technology,
and Cineverse (NASDAQ: CNVS), an innovative streaming
technology and entertainment company, today announced an agreement
to enhance Cineverse's Matchpoint content management and
distribution platform with XL8's advanced AI-driven captioning and
localization capabilities.
This partnership marks a milestone in the media and
entertainment industry. It combines XL8's real-time AI-powered
localization supply chain solutions, including AI-generated
subtitle and caption creation along with its proprietary machine
translation engines, with Cineverse's content management and
distribution platform. This direct API integration streamlines how
vast content libraries are captioned and localized, while reducing
the costs required to serve the needs of global audiences with more
diverse, culturally relevant, accessible translations and captions.
Embedding AI localization into the media supply chain enables
Cineverse to offer a broader range of content to their audiences at
a lower cost and speed with accuracy and consistency.
XL8's MediaCAT APIs will serve as a critical link in
Cineverse's digital media supply chain, which will leverage XL8's
AI technology to efficiently manage the localization functions
within the company's proprietary Matchpoint all-in-one OTT and
streaming platform. Matchpoint streamlines the distribution process
and enhances the overall management and monetization of digital
media by automating workflows with AI capabilities. As an
established leader in the Free Ad-Supported Streaming TV (FAST)
sector, Cineverse offers its channel operators a scalable, fully
automated content delivery product suite that now includes
translation, captioning, and localization.
MediaCAT builds innovative artificial intelligence and machine
learning technologies to provide high-quality, real-time media
content translation. The platform integrates seamlessly into
existing automated workflows while adhering to the industry's
standards for security and compliance.
"Our partnership with Cineverse demonstrates our ongoing
commitment to innovation and leadership in the AI-powered media
localization market," said Josh
Pine, Chief Revenue Officer (CRO) at XL8. "Embedding our
platform into an automated media delivery system for FAST
represents an industry milestone, and we're thrilled to be part of
a solution that empowers media companies with fast, accurate, and
culturally nuanced translations to expand their reach to global
audiences."
Cineverse's Chief Operating Officer & Chief Technology
Officer, Tony Huidor, added,
"Integrating XL8's top-tier AI auto caption creation and machine
translation engines into Matchpoint allows us to leverage
next-generation technology to help Cineverse and our partners to
easily expand our business internationally without incurring
significant costs. Through the power of Matchpoint and XL8's
MediaCAT, our content partners can now more effectively maximize
their distribution and improve monetization for their content
libraries."
Erick Opeka, Chief Strategy
Officer & President at Cineverse, will be presenting at the
StreamTV Show from June 24-26, 2024,
in Denver, Colorado. At this
event, attendees will discover the latest innovations and trends
driving the streaming television industry forward.
About XL8:
XL8's proprietary AI technology is
redefining machine translation for media content, having translated
over 800,000 hours of content, reaching millions of users
worldwide. From delivering groundbreaking solutions like automated
subtitling and real-time interpretation to top media companies, to
enhancing communication across 45+ major languages, XL8 is at the
forefront of language technology. For further insights, please
visit xl8.ai.
About Cineverse:
Cineverse's advanced, proprietary
technology drives the distribution of over 71,000 premium films,
series, and podcasts to more than 82 million unique viewers
monthly. From providing a complete streaming solution to some of
the world's most recognizable brands, to super-serving their own
network of fan channels, Cineverse (NASDAQ: CNVS) is powering the
future of Entertainment. For more information, please visit
cineverse.com.
Press Contacts:
XL8
USA: Season Skuro, +1-818-903-8205 /
seasons@bubbleagency.com
UK: Shawn Belluigi, +44 (0) 7754 553 798 /
shawnb@bubbleagency.com
Cineverse
Media
The Lippin Group, cineverse@lippingroup.com
Investors
Julie Milstead,
investorrelations@cineverse.com
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SOURCE Cineverse Corp.