Tuesday, 10 December 2013
Newsy sells for 35 Million. Online Video news service bought by a...Newspaper.
Newsy is a video-journalism 5 year old "startup" by producing news videos alongside content for websites. Websites like Mashable or The Huff Post on commission.
Their strategy too, is to provide that video news to online newspapers.
It was exactly the model that Streamabout started with.
And Newsy has just been bought for 35 million usd by E.W. Scripps in cash.
Scripps are the owners of a large number of daily and "community" (regional) newspapers. So online news they see as important both as a reader service but also as a potential revenue generator through the syndication of news.
In other words, here are a group on newspapers prepared to invest in digital news to grow their business rather than seeing it as a threat. Money where their mouth is - 35 million dollars of it in cash.
And they are right.
News is at the very core of newspapers and the ability to provide online video, brings newspapers into Television land and the money that goes with that. They can break news quicker than TV who are hampered in "holding back" the day's news for lucrative 6 or 9 o'clock bulletins.
When I want news, I want it now. Not tonight.
With crews 'on the ground', you can make that news video as local and as relevant as you want.
It's a great thumbs up for digital news video and more importantly, another clear example of Newspapers getting on board the digital train.
Offers on a postcard please.