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Newsy.com Praises State of Missouri for Excellent Startup Conditions
New online video company exemplifies how a public/private partnership can serve as an economic growth engine for state of Missouri
COLUMBIA, MO, July 21, 2009 - Newsy.com, a multi-source online video news service for the Internet and mobile devices, credits its relocation to the state of Missouri for its successful first year.
Newsy.com moved from Silicon Valley to base its operations in Columbia, MO to partner with the highly regarded Missouri School of Journalism and benefit from Columbia’s educated workforce and friendly business environment.
Newsy.com President Jim Spencer explains, “We looked to base Newsy.com in the smartest and most economically viable place in the world. As a news startup, smartest means across the street and in partnership with the Missouri School of Journalism. The state of Missouri and Columbia have provided huge economic benefits that help make Newsy competitive and positioned to win in our fast growing marketplace.”
For example, the Missouri Technology Corporation, housed within the Missouri Department of Economic Development, provided Newsy with a $250,000 low-interest loan to purchase equipment needed to set up its state-of-the-art newsroom. Furthermore, the DED helped provide Newsy with valuable .40 cents on the dollar tax credits allowing Newsy to stretch their investors’ dollars even further.
The public university and private company partnership that Newsy exemplifies helps the state advance in today’s increasingly competitive and global economy. Technology and education spur economic development and will grow Missouri – this is the vision of the University of Missouri system and the shared values of Newsy.com.
Spencer, who has a track record of Internet successes, returned to his home state of Missouri to start his own Internet company. “There is no reason why Internet/mobile media companies need to be located on the coasts or major cities – especially given their huge cost basis - we are able to compete on the world stage right here from Columbia.”
A pioneering online video news site, Newsy.com monitors, synthesizes and presents the world’s news coverage. Its short video snapshots, available on the web and mobile devices, accelerate viewers understanding of a news story by highlighting the key differences in reporting. Online video advertising, the fastest growing sector of advertising, and content licensing are the company’s two revenue streams.
In September, the company will enter its second year of operation – it has and will continue to hire from the local talent pool. Newsy.com is currently raising its second round of money and plans to raise more than 90% of the funds in Missouri.
About Newsy.com
Newsy.com (http://www.newsy.com) is a multiperspective online video news site that monitors, synthesizes and presents the world’s news coverage. Through short video segments available on the web and mobile devices, Newsy.com offers a way to accelerate the global understanding of a news story.
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Today’s video ‘Covering and Smothering Michael Jackson’ poses the question: “Did the media give Michael Jackson’s death too much coverage?”
Indeed, many, many people were glued to their computer screens to watch coverage of Jackson’s death. In fact:
MSNBC.com served up nearly 19 million streams of NBC News’ coverage of the Michael Jackson memorial service yesterday, breaking our previous record of the Obama inauguration. CNN.com says it served up 10.5 million live streams served for the day, second to its inauguration record.
To give some context to the “nearly 19 millions streams of NBC News’ coverage of Michael Jackson memorial service,” here’s some stats to noodle:
According to NielsenMedia.com
, the TV program with the most viewers for the week of June 29 was America’s Got Talent - with 13 million.
MediaBistro.com reports: The big three broadcasters bounced back during a big news week that included the death of Michael Jackson. NBC Nightly News won the week averaging 8.4 million Total Viewers and topping 10 million on Thursday night with the Jackson news.
MSNBC.com’s 19 million streams of Jackson coverage blows these other numbers out of the water. Online video, the chosen platform of Newsy.com, is gaining steam, and fast. It might not be too long before online video outpaces television altogether.
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SnapStream’s technology and TV Trends help drive Newsy.com editorial and production process
Columbia, MO (PRWEB) July 9, 2009 — Newsy.com, the only multi-perspective online video news site that highlights how different media outlets around the world are covering a story, leverages SnapStream’s TV search technology and TV Trends to produce its daily videos.
Newsy.com offers viewers context with convenience - its short videos present analysis of how news reporting differs from one media source to another. By employing SnapStream to search and sift through news channels from around the world, Newsy.com efficiently discovers coverage for its team of editors to evaluate and synthesize into two- to three-minute videos.
we find the most compelling TV news nuggets through SnapStream’s unique technology - it allows us to quickly sort through global TV news channels. Newsy is on the cutting edge of online and mobile video news — Snapstream is essential in helping to deliver our service.
Newsy.com President Jim Spencer explains, “we find the most compelling TV news nuggets through SnapStream’s unique technology - it allows us to quickly sort through global TV news channels. Newsy is on the cutting edge of online and mobile video news — Snapstream is essential in helping to deliver our service.”
Newsy.com approaches the challenge of determining the future of news in an innovative way — it’s a great use of our TV search technology and I’m pleased to be part of such a groundbreaking company.
The Newsy.com staff calls the SnapStream server rack “Zeus’ DVR”, and make heavy use of its closed-captioning search features. If the Newsy.com staff is working on a story on “Iran”, editors just type “Iran” into the SnapStream search box, browse matching TV clips from cable and broadcast news sources (such as CNN, BBC and FOX) and and download the video clip they want.
SnapStream President Rakesh Agrawal says, “Newsy.com approaches the challenge of determining the future of news in an innovative way — it’s a great use of our TV search technology and I’m pleased to be part of such a groundbreaking company.”
Newsy also leverages SnapStream’s web-based TV Trends service (http://www.snapstream.com/tvtrends/) to find out what topics are buzzing on major broadcast and cable news networks. Newsy utilizes Twitscoop for tracking trends on Twitter, Google Trends for determining the top search terms on Google, and relies on SnapStream TV Trends to track trends on television so it can produce videos on the most relevant and timely issues of the day.
About Newsy.com
Newsy.com (http://www.newsy.com) is a multiperspective online video news site that monitors, synthesizes and presents the world’s news coverage. Through short video segments available on the web, Newsy.com offers a way to accelerate the global understanding of a news story.
About SnapStream Media, Inc.
SnapStream is a software company based in Houston, TX. SnapStream TV search is a turnkey television search appliance that allows organizations to monitor television for whatever it is they’re looking for. SnapStream TV search technology is currently used by hundreds of organizations including the United States Senate, Emerson College, E!’s “The Soup”, Current TV and, of course, Newsy.com. More information about SnapStream’s TV search technology can be found online at http://www.snapstream.com/enterprise/.
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