Crowd Media enters Heads of Agreement with SourceFlare for Talking Head platform
Crowd Media Holdings Limited (ASX: CM8: | FRA: CM3) and SourceFlare Ltd are pleased to announce the execution of a Binding Heads of Agreement (HOA) to integrate Crowd Media’s technology into the SourceFlare marketing platform to optimize customer acquisition funnels and lead generation.
Established in 2018, SourceFlare is an innovative marketing technology company that provides business intelligence and omni-channel customer acquisition technology. The SourceFlare platform applies machine learning and data insights to generate customer leads for its clients through online mediums such as search engines and social media.
Under the Heads of Agreement, Crowd Media will develop a Proof of Concept (POC) that leverages its Talking Head platform to apply conversational AI to the Media Search sector. Following delivery of a POC within 3 months, Crowd will then advance it through a ‘Scale Up’ phase where digital avatars will generate highly engaging content that will promote customer acquisition funnels and optimise lead generation for SourceFlare clients.
As part of the agreement, SourceFlare will waive licensing fees to Crowd Media for access to the SourceFlare platform which will be utilised by Crowd Media’s Mobile Subscription business for the purpose of B2C customer acquisition. Crowd will be responsible for any media buying expenses incurred on the SourceFlare platform.
A monthly fee of USD $5,000 per month will be payable to Crowd Media which 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 team at Crowd Media are excited to be collaborating with SourceFlare on this media search project because we share similar goals with online customer acquisition having long been a vital part of Crowd’s Mobile Subscription business. With consumers spending more time online than ever before, personalised content is an opportunity for businesses to stand out from their competition and by working with SourceFlare, we have found an innovative partner that understands the rapidly changing trends of online consumers and how to appeal to them.
“By extracting data insights from SourceFlare and integrating it with conversational AI, we look forward to generating content that will resonate with consumers and showcase the value of conversational AI in the field of customer engagement and acquisition.”
SourceFlare CEO, Gilad Cohen commented: “We see incredible revenue potential in combining Crowd’s groundbreaking Talking Head technology with SourceFlare’s advanced marketing tech. The opportunity to deliver world-first digital human marketing campaigns can revolutionize how businesses engage with prospective customers. This agreement with Crowd is the beginning of a very exciting partnership.”
The Scale-Up phase will involve rollout of many different digital avatars that can be applied to unique marketing campaigns in multiple languages where each digital avatar will be interactive with internet users and powered by Crowd Media’s artificial intelligence.
Crowd Media welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at: https://crowdmedia.com/newsletter
ENDS
The announcement has been authorised for release to ASX by the Board of Directors of CM8.
For further Information:
Idan Schmorak
CEO Crowd Media Holdings
ABOUT CROWD MEDIA
Crowd Media is an Artificial Intelligence company that is leveraging its AI platform for applications in Conversational Commerce.
ABOUT SOURCEFLARE
Established in 2018 by a team of digital-marketing veterans with vast experience in data-science and machine learning, SourceFlare is an innovative marketing-tech company that developed an advanced BI-driven Omni-channel Customer Acquisition platform that can scale up marketers’ productivity by using machine learning data insights to lower effective costs, while boosting up business overall performance & buying power.
