Over the past few years, Reuters (NYSE: TRI) has sought to balance its main financial news and data services business with a more consumer-facing set of content. Video has been a big part of both sides of its personality, but today’s distribution deal with paparazzi-style video site Hollywood.TV represents its broadest move yet for Reuters America.
Reuters will distribute Hollywood TV’s celebrity news footage as a complement to its existing mix of entertainment coverage. The deal further enhances the Reuters America’s recently launched “unified content platform.”
Hollywood.TV brings with it a team of 700-plus videographers to Reuters’ system. The deal doesn’t involve any investment from Reuters and is strictly based on revenue-sharing, a Reuters rep said, noting that Hollywood.tv is licensing content to Reuters content via its distribution platforms. The news service views it as an early expression of a plan in which “we work with partners to deliver new content sets to its customers, and allow those partners to monetize it with our customers.”
A previous example of this arrangement can be seen in Reuters’ recent agreement with Chinese broadcaster CCTV to distribute their content and scripted footage globally.