|[January 12, 2014]
NBCUNIVERSAL NEWS GROUP ANNOUNCES STRATEGIC COLLABORATION AND INVESTMENT IN NOWTHIS NEWS
NEW YORK --(Business Wire)--
The NBCUniversal News Group, one of the most influential and respected
news portfolios in the world, and NowThis News, the first exclusively
short-form video news network built specifically for mobile and social,
have agreed that the News Group will take a minority stake in NowThis
News and the two companies will co-produce original short-form news
videos to be distributed across mobile and social platforms. Content
will be produced by co-located NowThis News and NBCUniversal News Group
teams based out of NowThis News's New York City studio.
NowThis News is a news organization that specializes in creating unique,
short-form video for audiences across social platforms that include, but
aren't limited to, Facebook, Instagram, Twitter, Vine, YouTube and
Snapchat. Videos are combined into NowThis News's Android (News - Alert) and Apple apps
and a mobile website, allowing viewers to seamlessly watch updates
delivered to their pockets, wherever they are.
As more people consume news and information on mobile and social media,
this collaboration will capitalize on the News Group's world-class news
operations and NowThis News's approach to original, short-form
storytelling to reach the next generation of users.
"We know that news consumption among younger audiences continues to
grow, but in order to reach that audience, we need to continue to create
video for the platforms they use most. NowThis News does exactly that --
delivering relevant news stories for the mobile and social platforms
that resonate with this audience," said Patricia Fili-Krushel, Chairman
of the NBCUniversal News Group. "We're excited to incorporate this
relationship into our overall strategy -- to innovate inside and outside
the company -- positioning the News Group for future success."
Kenneth Lerer, NowThis News's Co-Founder and Manager Director of Lerer
Ventures, said, "By working together, the NBCUniversal News Group and
NowThis News can learn from each other and build a great digital news
experience that's a win-win for the new news consumer who wants all
video, all the time, built for social and mobile. This partnership
allows us to showcase our shared vision of combining the world's
strongest news brands with NowThis News to super serve consumers."
NBCUniversal News Group and NowThis News will collaborate to create
original, short-form videos that fit where the audience lives. The teams
will co-produce content for TODAY, MSNBC, NBC News and CNBC such as:
Mashups: Covering daily political, pop culture, or business news
Breaking down business political or financial news
"Our partnership with NowThis News is another example of our commitment
to emerging platforms so that our advertising partners can increase
their audience reach," said Linda Yaccarino, President, Advertising
Sales, NBCUniversal. "With this collaboration we have the ability to
innovate and harness the power of compelling video and create campaigns
that resonate more strongly with consumers."
The partnership represents the latest in a series of moves that the
NBCUniversal News Group, whose digital assets include NBCNews.com, msnbc.com,
and CNBC.com has
made in the digital space. Together these assets reach more than 70M
unique users. Recently, the News Group also announced an investment and
content partnership with Kara Swisher and Walt Mossberg's new venture,
Revere Digital, launched a new msnbc.com,
created new original video units for NBC News and CNBC and acquired live
stream video platform, Stringwire.
NBCUniversal News Group
The NBCUniversal News Group is one of the most influential and respected
portfolios of on-air and digital news properties in the world, reaching
over 147 million people each month.
The Group includes NBC News, a broadcast leader of global news and
information for over 75 years and home to such respected programs as
"NBC Nightly News with Brian Williams (News - Alert)," "Today," "Meet the Press," and
"Dateline;" MSNBC, the premiere destination for in-depth analysis of
daily headlines, insightful political commentary and informed
perspectives reaching more than 96 million households worldwide; CNBC,
the recognized world leader in business news reaching approximately 395
million homes worldwide as well as The Weather Channel and digital
platforms including the NBC News Digital Group, msnbc.com, CNBC.com.
The NBCUniversal News Group also extends on its nationwide network of
owned and affiliate stations, NBC News and CNBC Radio; as well as MSNBC
on Sirius XM radio.
NowThis News is a Lerer Ventures startup and portfolio company that has
produced over 10,000 original 6, 15, and 30 second news videos for
rapidly growing social and mobile audiences. The company was founded by
Huffington Post (News - Alert) co-founder and former Chairman Kenneth Lerer, and former
Huffington Post CEO Eric Hippeau. From studios in New York, Washington
DC, NowThis News produces over 50 daily video updates for Facebook,
Instagram, Snapchat, Twitter, Vine, YouTube, All of the NowThis News
platforms can be found here: http://www.nowthisnews.com/whatsup
Lerer Ventures is a New York-based, seed stage venture capital fund led
by Managing Directors Kenneth Lerer, Eric Hippeau, Ben Lerer (News - Alert) and Jordan
Cooper. LV invests in founders in the earliest stages of a startup's
life, seeking out entrepreneurs with product vision, consumer insight,
focused execution and unwavering ambition. Its portfolio includes
Buzzfeed, Warby Parker, Thrillist (News - Alert), Percolate, Fullscreen, Food52,
Songza, RebelMouse and Refinery29.
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