Reuters repositioning news for 21st century

Reuters is no longer a traditional wire service. It is one of the largest multimedia news agencies in the world, he said in a recent interview.

“We're committed to enhancing our news file with considerable investments in commentary and investigative journalism and by melding the work of correspondents into a file that out-smarts the competition. We are a strong and diverse global network with a formidable line up of journalists who are able to make connections that other news organisations don't have the resources to do. 

“We are investing now towards repositioning our news for the twenty-first century in an effort to anticipate the future needs of our clients - many of whom are now of the Google/YouTube generation. 

Reuters has invested $1 billion in "innovation and next-generation information products" this year. The centrepiece of this effort is Project Insider, an interactive TV service that delivers personalised financial news and insight direct to clients’ desktop and mobile devices.

“This is something no one else is doing and we believe it transforms the viewing experience from a passive, one-way broadcast model into an interactive and powerfully personalised medium. Think narrowcasting rather than broadcasting.

“Insider has been developed by some scary smart people inside the company and will leverage exclusive Reuters content and the editorial expertise from our 2,700 journalists around the world, packaged in a way that makes the most sense for our clients. Our programming will include market outlooks, live newsmaker interviews, deep technical analysis and market reactions to important events. We reckon that a combination of Reuters content with targeted content from third party financial information providers will enable our clients to cut through all the noise and clutter of existing financial news programming and receive a single, complete source of information.”

Cramer, former head of CNN International, says Thomson Reuters has done a great job of turning challenges into opportunity, especially with regards to its innovation strategy.

“In my opinion, great companies are defined in challenging times and it takes a great company to have the courage to invest in a tough period. Across the company we are investing a remarkable $1 billion this year in innovation and next-generation information products." ■