- Utilizing its proprietary semantic technology "Breaking Sports" aims to offer the fastest news delivery to sports fans around the world.
TORONTO, Nov. 5, 2014 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") (TSXV: SPY), a technology provider of local mobile search, semantic search and messaging solutions for consumers and businesses is pleased to announce that it has developed a new app, "Breaking Sports."
Breaking Sports tracks social media in real-time for significant sports information and events and distributes summarized information through real-time push notifications to consumers. By utilizing advanced artificial intelligence techniques, Breaking Sports can detect events as they happen and as they are announced in social media, determine nature of the events, attribute events to participants, summarize source articles, index the underlying information, provide search of events and articles and send alerts to fantasy players, sport fans and enthusiasts.
Compared to other similar products, Breaking Sports has the differentiated advantage of not requiring human intervention when detecting and generating alerts, thereby enabling faster delivery of relevant information. Through a simple-to-use interface Breaking Sports users specify what teams and players they are interested in as well as what type of events they care about, such as injuries, roster moves, line-up changes, statistics, rumours and more.
In addition to tracking social media, Breaking Sports analyzes statistical and play-by-play information to auto-generate news, updating users on important facts that might not be covered through traditional sports or social media. Users are able to review news in a familiar feed/stream interface and as search results, both of which are ideally suited for monetization through native advertising. Other monetization options include freemium models, with upgrades to subscribe to more teams and topics and/or ad-free streams. While the current real-time semantic processing pipeline understands North American football, basketball, baseball and hockey, it can be easily configured to include other sports, as well as potentially other categories of information, ushering the era of real-time news subscription for any topics of choice.
Since 2007, Sprylogics has been developing natural language, machine learning and semantic search technologies first used in its Cluuz search engine, voted as one of the top 50 real-time search engines and one of the top 10 semantic search engines. The latest advancements in the Company's real-time Natural Language Processing ("NLP"), enabled by recent breakthroughs in deep-learning, will be showcased in its new consumer application, Breaking Sports. This app is taking aim at a massive high growth fantasy sports industry with interest across the globe.
More than 33 million Americans take part in fantasy sports, spending an average of $111 per year on league-related costs. That amounts to about $3.6 billion in spending (The Atlantic, Sept 2013). Over the past 10 years, fantasy sports services have experienced explosive absolute growth of 241%. Fantasy sports service firms will continue cashing in on the general move toward more mobile content, which will help bring revenue up at an annualized rate of 7.6% over five years to 2018 (FSTA, May 2014).
The biggest drivers behind Fantasy Sports growth are the proliferation of mobile apps that make joining and following fantasy leagues easier; growth in non-traditional fantasy sports like auto racing, soccer and golf; and making more money from female players, who currently comprise 25% of the market but only 10% of the associated spending. (Forbes, July 2012).
Sprylogics believes that sports information providers who find a way to cater to this growing demographic will be well situated.
"By utilizing our extensive experience in Semantic search we were able to efficiently develop a compelling application that opens up a new and exciting market for the Company." said Marvin Igelman, CEO of Sprylogics. "Whether you are following a game, player or league, Breaking Sports will keep you aware of all the relevant information you need in real-time. It's a gripping mobile sports app that fantasy sports players and sports fanatics will want to have." added Igelman.
The Company expects to announce the launching of Breaking Sports shortly.
Sprylogics International Corp. is a technology provider of local mobile search, semantic search and messaging solutions for consumers and businesses.
The Company enables telecom operators, messaging and mobile application providers to introduce new revenue streams into their apps with its "Poynt-Enabled" SDK. Sprylogics semantically aggregates and distributes useful local content by making it searchable via its patented geographical and contextual targeting technology. Sprylogics also markets Poynt; an award winning, all-in-one mobile local search App that has garnered over 20 million downloads.
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Cautionary and Forward-looking Statements - Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of Sprylogics to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in Sprylogics' other continuous disclosure filings, which are available at www.sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
SOURCE: Sprylogics International Corp.
For further information: Sprylogics International Corp. | David Berman, CFO, (905) 761-9200, Ext. 21 | [email protected] | www.sprylogics.com