Innovid Inc., the global leader in advanced video advertising solutions, today announced the issuance of a patent by the U.S. Patent Office that covers interactive video technology — an innovation sweeping the digital advertising industry. The patent for invention number 8,745,657 is for “inserting interactive objects into video content.” The patent was originally filed in February 2009.
The patent covers the technology behind Innovid’s cross-device digital video platform for enriching video-based content with additional interactive elements. These elements include a variety of use cases such as hot-spotting, social media sharing, store locators, product carousels and additional videos within the unit, to name a few. Interactive elements are dynamically inserted into the video from a server call, once the ad unit is impressed.
Innovid’s latest benchmarks release shows that this innovation in video has led to increased success for advertisers who use it over static video. On average, interactive video content earns 149% more awareness, 34 more seconds of time earned, and outperforms standard video in every category, including engagement, completion rates and percent of ad viewed.
“We are incredibly proud to have secured this patent. Innovid was founded with the intent to improve video experiences for both advertisers and consumers, and this patent is further proof that we are achieving this,” said Zvika Netter, Co-Founder and CEO, Innovid, who was named in TIME’s “Tech Pioneers Who Will Change Your Life” in 2009. “Innovid prides itself on being a market leader for innovation, and being officially recognized as the sole inventor of these solutions is a huge milestone for us.”
Innovid, founded in 2007, has rapidly expanded its business since its inception — serving billions of interactive impressions annually — and has partnered with hundreds of Fortune 1000 brands to transform their once-static video advertising content into clickable, touchable, track-able and relevant experiences for consumers. Innovid’s interactive solutions have won several awards including IAB Mixx 2014 & 2013, Digiday Video Awards 2014 & 2012, iMedia Connection ASPY Awards 2013, and Creative Media Awards 2013.
The company is backed by investors Sequoia Capital, Genesis Partners, T-Ventures, and recently announced, Cisco Investments. For more information, please visit www.innovid.com.