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Thompson Reuters To Launch Video News Service In June

This story was written by Tameka Kee.
Thompson Reuters is trying to sweeten the deal it offers its financial services clients with a finance and stock market-focused video news service in Juneand it's hiring 120 new employees to run it. Much of the non-ad-supported content will be kept behind a pay wall; premium clients will get the video as part of their subscriptions, people on lower tiers will need to pay extra (via Reuters). More after the jump.>

It also won't run all day, though clients will be able to access and search through the video clips whenever they want, VOD-style. The coverage will be a blend of breaking news and markets analysis, with contributions from Reuters journalists; the three main studios are in New York, London and Hong Kong. The service will also pull in content from third-parties like *TheStreet.com*, ForexTV, and Beet.tv (pictured).

NYT: The goal isn't to go head-to-head with the 24-hour coverage that CNBC, Fox Business Network or Bloomberg Television providebut to better compete with traditional news wires like Dow Jones (NYSE: NWS). The company has been testing the service since last October; it's part of a $1 billion system-wide products and services upgrade; in a statement, Thompson Reuters Markets Division CEO Devin Wenig said the company had to spend money to build more value into its productsparticularly amid dwindling demand for its data terminals from financial services companies trying to cut costs.


By Tameka Kee