The NBA Extends Its Deal With An AI-Driven Video-Tracking Firm

The league wants additional data, and Videocites can follow videos throughout social media.

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The National Basketball Association is investing in the video tracking company Videocites, which uses artificial intelligence, as it seeks to acquire additional ownership shares in companies that could be advantageous to the league.

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As part of the agreement, Videocites has extended a deal with the NBA to use its technology to monitor how the league's content is being used by fans on social media. The NBA was brought on by Videocites as part of a funding round supervised by Velocity Capital Management and merged by Infront Sports & Media AG.

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According to David Lee, CEO of NBA Equity, "We thought it would make sense for us to get into a deeper partnership by having an equity component. It's a significant investment on our part.

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Using tools like short videos, live streaming, mashups, and compilations, Videocites can monitor every instance in which a certain piece of video material has been used on social media. Movie studios, media companies, and other sports leagues are some of the company's current clientele. It has been used by brands to gather information on how content is used on social media networks as well as a tool to safeguard intellectual property.

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The NBA intends to use the data to assess its cross-platform reach, find new collaborators among producers, and provide its sponsors with information on brand exposure.

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Eyal Arad, co-founder of Israel-based Videocites, said, "They're very forward-thinking about fan interaction — how to bring them on board and employ fans as producers instead of pirates.

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David Haber, the NBA's chief financial officer, proclaimed the league "open for business" last year and formalized its investment activities through the NBA Equity division, which started investing in a range of businesses in related fields. Investments to date have gone to the children's social network Zigazoo, consumer data company StellarAlgo, and Sorare fantasy gaming. Their portfolio now includes over 20 enterprises.