Media News - Monday, May 10, 2010
Imagine YouTube for traders
Thomson Reuters is trying to change television. Its new product, Reuters Insider, is a Web-based video service that captures myriad streams of information produced by the company’s reporters and 150 partners. The service, which will begin Tuesday, is something like a You Tube for the financially interested, albeit one that is available only to Reuters subscribers, who pay as much as USD 2,000 a month. Using the main window of the service, called Channel One, subscribers can navigate by sector, date, markets or region, or apply filters to create their own personalized channels. Thomson Reuters, which was formed in a merger in 2008, creating a USD 30bn behemoth in financial news and information, is making a big bet on Insider, about USD 100m. Making such a big bet on video, Reuters is acknowledging that professionally generated text — no matter how relevant, no matter how actionable — just isn’t going to get it done anymore. By creating a site built on not only their nascent video efforts, but also user-generated video content from inside the walls of its own service, the company is redefining expertise, news and the language of information. (New York Times)
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