NBCUniversal News Group has taken a minority stake in NowThis News, the quick-hit online video startup, and the two will collaborate on producing short video news segments.
The deal, announced Sunday night in a press release, will include production of short-form videos between the two companies that are aimed at attracting audiences on mobile devices and social media websites.
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NowThis News specializes in short news segments, with most taking only the 15 seconds allotted by Instagram video.
NowThis News already has partnerships with a variety of media outlets including The Atlantic, Slate, BuzzFeed and Mashable. The company was founded in 2012 by Huffington Post cofounder and former chairman Kenneth Lerer and former Huffington Post CEO Eric Hippeau. It has studios in New York and Washington, D.C.
NBC is the first major news agency to make an investment in NowThis News and represents a major commitment to the growing mobile video market.
"We know that news consumption among younger audiences continues to grow, but in order to reach that audience, we need to continue to create video for the platforms they use most," said Patricia Fili-Krushel, chairman of the NBCUniversal News Group, in the press release. "NowThis News does exactly that — delivering relevant news stories for the mobile and social platforms that resonate with this audience."
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