For the Record

Forget broadcasting, the future is narrowcasting

Chris Cramer is Global Editor of Multimedia at Reuters News and has editorial oversight of Reuters Insider, a multimedia information service for Thomson Reuters financial service subscribers that will be launched this year.

Media organizations the world over are currently focusing on the future of their businesses. As audience and viewer attention fragments and the internet fuels a wholly different kind of information consumption there are many siren voices suggesting that traditional media business models are dead, or in some cases on life support. Rising print and distribution costs and flagging advertising are driving even flagship newspapers and magazines to slash their costs, jettison journalists and production staff, and in some cases, go entirely out of business. In Britain, television companies like ITV — once described as having a license to print money — are reconsidering their entire business rationale and, crucially, their future relationship with viewers and consumers.

Yet this week the world’s largest multimedia news agency, Reuters, unveils what we believe will be the future of news dissemination — not broadcasting, but narrowcasting.

Later this year we will launch the next-generation information service which will produce live markets coverage, analysis and breaking news for the financial professional — in this case the five hundred thousand institutional professionals currently subscribing to Thomson Reuters financial services.

The service — delivered exclusively via broadband internet — launches during the world’s most profound financial crisis in half a century, a story Reuters is throwing all its resources against, and will draw upon our huge global network of 2,500 journalists, almost 200 worldwide bureaus and writers and commentators from Thomson Reuters professional publications.

This is not the first time the news agency has launched a television service just for its clients. Reuters Financial TV went to market, delivered via bandwidth hungry data lines, in 1993. The service was then considered well ahead of its time and, though professional and highly-regarded by its customers, had excessive distribution costs. It stopped transmitting in 2001.

But Reuters has long held ambitions to return to the programming business and during the past year we have secretly planned for a return to narrowcasting. In record time we have built state of the art studios in London and New York and broadband transmission points in many of our overseas locations, including Hong Kong, Washington, Singapore and other global newsrooms. Sophisticated newsgathering tools are currently being installed in our bureaus and hundreds of staff are being equipped with Flip video cameras and other IP transmission technology. A production team of more than 100 journalists and technical staff has been hired, including television anchors such as Axel Threfall from CNBC and Carrie Lee from CNN and producers from other business channels like Bloomberg. Pilot programming has been available to selected clients and business partners since October last year.

from Reuters Editors:

Typewriters, Technology and Trust

Dean Wright is Global Editor, Ethics, Innovation and News Standards. Any opinions are his own.

A little girl in my family got a typewriter for Christmas.

Not a laptop. Nothing with a screen. A typewriter. The old-fashioned manual kind with a smeary ribbon and keys that stick.

Typewriters had pretty much gone the way of dodo birds, car tail fins and cigar-chomping editors who yell “Stop the Presses” quite some years before my granddaughter was born. But it was the typewriter used by the school-age, aspiring journalist in the movie “Kit Kittredge: An American Girl" that captivated her.

Or maybe it was the way the typewriter was used. In the movie, a tween-ish girl, played winningly by Abigail Breslin ("Little Miss Sunshine"), does old-fashioned journalism and writes stories that help right a wrong in Depression-era Cincinnati. Kit may be young, but in a challenging environment she keeps her wits—and a strong sense of ethics—about her.

In today’s rapidly realigning media landscape, typewriters have long since given way to laptops, BlackBerries, camera phones, video phones and Twitter. But here at Thomson Reuters, and in the media as a whole, the need for a strong sense of ethics has never been more necessary.

Not all Hollywood depictions of our profession are that inspiring to would-be journalists — mainly because of the way some on-screen reporters behave.