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World's leading information company, Thomson Reuters Corp is likely to launch a new video news service in June this year. The company that basically caters to financial professionals will offer live and searchable financial markets coverage, analysis and breaking news through its proposed service. The customers will have to pay to avail video news service of Thomson Reuters hence it will not be available to general public.
Just like Google Inc's YouTube, Thomson Reuters' video news subscribers will be able to access on-demand news segments by paying fees. The service will not rely on advertising and will not run all day. The new video news service is a part of $1-billion plan of Thomas Reuters. The company planned to update its products and infrastructure to make them more appealing to financial professionals.
According to Devin Wenig, chief executive of the Thomson Reuters Markets Division, the new service aims to provide financial professionals with information which they can use to make trades and other business decisions. The new service will allow the customers to select videos on channels grouped by category, such as foreign exchange, equities or political news. The new initiative by Thomson Reuters Corp is expected to give tough competition to cable news networks that rely on advertising.
