Matthew Swenson of A Media Operator writes about how Reuters is generating revenue from old news footage.
Swenson writes, “The news agency is putting that theory to the test with British television news producer ITN, whose more than 70 years of broadcast footage—including the release of Nelson Mandela, the fall of the Berlin Wall and always-popular royal weddings—will become searchable and licensable through the Reuters Connect marketplace, a place where media companies can license Reuters and third-party news, photo, video and other content.
“Reuters will digitize 12,000 hours of ITN footage, using AI to tackle the cost and difficulty of cataloging decades of content and helping customers find what they actually want.
“Reuters’ proprietary artificial intelligence is the catalyst for this joint venture, giving new life to old news.
“‘It allows us to work at a scale and depth none of us have previously experienced,’ said Tim Forrest, head of content delivery and commercial innovation at ITN. ‘Finding the perfect clip or moment can often feel like finding a needle in a huge haystack.'”
Read more here.
