Innovid, an emerging powerhouse in advanced video advertising, just received notice from the U.S. Patent Office that it has been issued a patient for its interactive video technology.
Video innovations are sweeping the digital advertising industry — where applications and technology that works for mobile and other mediums is the newest priority.
The patent is for what is known as invention number 8,745,657 — issued for a new way of “inserting interactive objects into video content.” The company filed for the patent in 2009.
“The patent covers the technology behind Innovid’s cross-device digital video platform for enriching video-based content with additional interactive elements,” according to the company’s provided statement. “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 innovation has reportedly produced increased success for advertisers who use it rather than static video. The interactive video content has been “shown to get 149 percent more awareness, 34 more seconds of time earned, and outperforms standard video in every category, including engagement, completion rates, and percent of ad viewed.”
Innovid execs are happy to have the patent in hand after a six year wait.
“We are incredibly proud to have secured this patent,” said Zvika Netter, the CEO at Innovid.
Innovid, founded in 2007, has rapidly expanded its business since its inception — serving billions of interactive impressions every year. CEO Netter was named in TIME’s “Tech Pioneers Who Will Change Your Life” in 2009, the same year the company applied for the patent.