Launches Magisto for Business to Meet Surging Demand for High Quality Video on the Web and Business Users’ Needs
MENLO PARK, Calif. — (BUSINESS WIRE) — February 10, 2016 — Magisto, the world’s most popular smart video storytelling application, today launched an extension of its platform tailored for surging demand for quality video from small and medium size businesses.
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Magisto for Business (Photo: Business Wire)
Magisto for Business introduces user interactivity into Magisto’s patented Artificial Intelligence engine - Emotion Sense Technology™, giving rich control to the user and dramatically increasing the usability of the finished movie for business.
At the heart of Magisto for Business is a new technology called “Smart Storyboard”™, which can be used to influence production value, define scene selection, refine messaging and brand movies without actually doing the heavy-lifting of video editing and production.
The new features are designed to satisfy businesses’ demand for video storytelling in what has been called ‘the industrial revolution’ of video, suggesting that the proliferation of video at scale can only be handled by automated platforms like Magisto.
“The Smart Storyboard lets the business user focus on how to tell the story rather than worrying about how to edit, produce and create that same story using complicated tools,” said Magisto’s CEO Oren Boiman. “It’s a bit like giving specific creative direction to your own video production team; that production ‘team’ just happens to be an intelligent machine that works in minutes rather than hours.”
Due to the traditionally high cost and complexity of producing high-end video, and the low quality results of most consumer video technology, many small businesses can’t use video as part of their marketing mix. But that’s changing.
Similar to other disruptive technologies, like digital photography, where massive consumer adoption and game changing technological advances preceded professional adoption, machine-created video is just now coming to the attention of professionals.
With 75 million users and 2.5 billion pieces of content analyzed, Magisto’s AI-based video storytelling platform is evolving rapidly and the improved technology has pushed the boundaries of the quality, ease and scale of video content that can be created by a machine. Magisto’s advancements are making this type of video creation predictably bubble up to higher-end markets.
“By extending Magisto to businesses, we’ve reduced the cost of producing a professional video by two orders of magnitude, while making it a thousand times faster because it’s generated by a machine,” said Magisto’s CMO Reid Genauer. “Within the last year, we have seen every major social network optimized for video creating the world’s first effective distribution platform for long-tail business video.
“This is the industrial revolution of video and video marketing is no longer a “nice-to-have,” its mission critical for any business,” he continued.
The demand for high-end video content creation is at an inflection point as a result of the enormous push video got from social media in 2015. Facebook recently reported the number of video views increased 10 times over the last year to 8 billion views per day. In a recent company survey, 65 percent of Magisto users said they already used or wanted to use Magisto in their professional lives. Magisto storytellers have created and produced 200 million video stories and more than one percent of those, some two million movies, are being used for professional purposes in diverse industries like photography, music, real estate, corporate training, fitness, education and travel.
Magisto for Business incorporates several features specifically designed for small businesses including custom scene selection, scene ordering, scene captioning, speech detection and custom branding. It also offers music licensed for commercial purposes, faster movie creation and unlimited HD downloads. New editing styles and algorithms allow the user to tell the Artificial Intelligence engine what the business use case is, enabling the Emotion Sense Technology™ to make movies that accurately represent those use cases, including: Business Overview, Product Demo, Tutorial, Creative Portfolio and Event Recap. Magisto intends to offer dozens of new business use cases to integrate with e-commerce and vertical marketplaces across numerous categories in 2016.
“Video is becoming the most important marketing communication channel for client retention and new client acquisition,” said Dirk Kinley, a top 1% Listing Agent in San Francisco and the Bay Area. “The issue for real estate agents as well as many other businesses is we have two video options: create small amounts of expensive video with limited messaging, or create a handful of suboptimal videos that do not represent the brand properly in the most polished light.
“In my experience, Magisto for Business offers both quality and ease of creation. This helps me create and deploy video at scale fostering an effective, ongoing dialog with my clients,” he continued.
Magisto for Business Example: Dirk Kinley