February 6, 2015
Reuters is hoping to better compete with the likes of CNN, CNBC, and other networks for news consumers, particularly those who use mobile devices for their news, by launching a new app that is essentially a “Netflix for News.” The new Reuters TV app requires a $2 per month subscription to access the 30-minute news reports and the live streaming channel. Both on-demand and live content will be downloadable for offline viewing. The iOS app is currently only available in the U.S. and the U.K.
Reuters TV is aimed at a mobile audience, but not necessarily just millennials. The company is targeting news consumers in their 30s and 40s who are “too busy to watch traditional TV news,” reports Variety.
“The way we consume TV and hear about news has changed,” said Isaac Showman, Reuters TV managing director. “Reuters TV is news for the Netflix age: It’s individually relevant, on-demand, and up-to date. It’s ideal for viewing during your daily commute.”
The app aims to satisfy people’s news interests by offering “curated but personalized news coverage.” The live channel will also be “algorithmically assembled” using the content drawn from the company’s 2,500 journalists in over 160 countries.
BBC redesigned its own app to add more personalization just a few weeks ago, according to Engadget. Reuters TV will also have to compete with a slew of apps from other news networks, including CNN, CNBC, Bloomberg TV, and Fox Business Network.