Clipsource is an online marketplace for news videos. Launched originally in Sweden in 2009, the service enables media companies to buy, sell or share news videos that have been produced in-house or sourced from viewers and readers.
The company aims to capitalize on the recent proliferation of video content on news and media sites. According to Dan Willstrand, CEO of Clipsource, “As online video advertising offers nearly ten times higher revenue per impression than standard banners, there is a strong economic incentive for the publishers to show more video”.
Clipsource gives publishers access to news videos that have been produced and sourced by a network of newspapers, broadcasters and news agencies. Direct crowdsourcing is not used as such, but the company believes that it can leverage the reach of local news agencies to take advantage of the ever-growing boom of citizen journalism.
“We believe local newspapers are well positioned to source user videos from their readers, just as they receive other news tips. We even suggest it’s necessary in a time when crowdsourcing has become a mantra. Once you have interesting videos, Clipsource opens up the opportunity for publishers to easily sell or share those videos without delay and benefit from an unparalleled flow of content that drives the most traffic and, hence, advertising revenues.”
Clipsource received roughly 430 000 EUR (4 million SEK) of funding from Almi Invest and a group of angel investors this past August. The company will use these funds to further develop the marketplace and expand internationally. Clipsource’s goal is to become the primary source for video news content for broadcasters and online publishers world-wide.