Why Arena Group Stock Is Trading Higher Today

by Anusuya Lahiri, Benzinga Editor
February 3, 2023 9:36 AM | 1 min read |
  • The Arena Group Holdings, Inc AREN collaborated with two Artificial Intelligence (AI) firms, Jasper and Nota, to speed and broaden its AI-assisted efforts in content workflows, video creation, newsletters, sponsored content, and marketing campaigns.
  • The partnerships will unlock new tools for the editorial teams at 250 brands operating on the company's platform, including Sports Illustrated, TheStreet, Parade, and Men's Journal.
  • The company also used technology from ChatGPT creator OpenAI, which has generated considerable buzz among consumers and businesses due to its humanlike, content-producing capabilities.
  • The company said some articles in Men's Journal are already AI-generated, such as "Proven Tips to Help You Run Your Fastest Mile Yet," and "The Best Ways for Men Over 40 to Maintain Muscle," the Wall Street Journal reports.
  •  It created articles based on information from 17 years of archived stories from Men's Fitness, a brand under Men's Journal.  
  • "While AI will never replace journalism, reporting, or crafting and editing a story, rapidly improving AI technologies can create enterprise value for our brands and partners," said Ross Levinsohn, Chairman and CEO of The Arena Group. "By leveraging these proprietary tools, we believe all those who create content on our platform will find opportunities to reach consumers in new ways."
  • Arena Group plans to use the tools across its brands, which include more than 50 owned titles. 
  • Arena Group also licenses the rights to publish Sports Illustrated from Authentic Brands Group. 
  • Related: BuzzFeed, Inc BZFD shared plans to leverage OpenAI to enhance its quizzes and personalize some content for its audiences.
  • Price Action: AREN shares traded higher by 11.60% at $10.20 on the last check Friday.
Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Comments
Posted In: NewsPenny StocksMoversMediaBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!