Nieman Foundation at Harvard
HOME
          
LATEST STORY
A journalistic lesson for an algorithmic age: Let the scientific method be your guide
ABOUT                    SUBSCRIBE
Nov. 6, 2014, 8:12 a.m.
Business Models
LINK:   ➚   |   Posted by: Joseph Lichterman   |   November 6, 2014

News video aggregator Watchup just announced a new funding round, a $2.75 million investment led by Tribune Media, the broadcast arm of the former Tribune Company. With this round, Watchup has now raised $4.25 million since its launch in 2012. McClatchy along with prior funders the Knight Enterprise Fund, the Stanford-StartX Fund, and businessmen Ned Lamont, Gordon Crovitz, and Jim Friedlich are also investors.

“We are so excited about this round because we have brought together a select group of media innovators who are willing to contribute their industry knowledge and their content to help us reinvent the video news experience,” Adriano Farano, Watchup’s co-founder and CEO said in a statement.

Watchup (which started as a Knight News Challenge winner) is an app that allows users to build personalized newscasts by pulling video from dozens of global and local news outlets. Most of the video is pulled in through public YouTube channels, but Watchup also has agreements with The Washington Post, The Wall Street Journal, PBS NewsHour, and other organizations to directly provide video to the app.

This round marks the latest in a series of investments legacy news organizations are making in news startups. In September, Vice Media received $500 million in funding, including $250 million from A&E Networks, which is owned by Hearst and Disney. Last month, The New York Times Co. and German publishing behemoth Axel Springer said they were investing $3.7 million into Blendle, a Dutch news reading platform where readers pay by the article.

Tribune Media, for its part, is investing in Watchup because it “extends our vision of expanding the reach of quality local news content,” Larry Wert, Tribune’s president of broadcasting said in a statement. Tribune Media owns or operates 42 different local broadcast stations.

Show tags
 
Join the 60,000 who get the freshest future-of-journalism news in our daily email.
A journalistic lesson for an algorithmic age: Let the scientific method be your guide
“One of the best parts about using the scientific method as a guide is that it moves us beyond the endless debates about whether journalism is ‘fair’ or ‘objective.’ Rather than focus on fairness, it’s better to focus on what you know and what you don’t know.”
The future of local news is “civic information,” not “declining legacy systems,” says new report
“In this vision, the community librarian facilitating conversations around authoritative, trusted digital news is as celebrated as the dogged reporter pursuing a scoop.”
Is text-generating AI an industry killer or just another wave of hype?
“There can potentially be massive shifts, benefits, and risks in many industries, but I cannot see a scenario where this is a ‘sky is falling’ kind of issue.”