Time Inc. Builds on Video Momentum With Wochit Partnership
Video Creation Platform to Enable More Real-Time, Short-Form Video Produced by Time Inc. Brands
NEW YORK, NY (08 Jun 2016)
Time Inc. (NYSE:TIME) today announced a partnership with Wochit, a cloud-based video creation platform that fosters the rapid creation of real-time, short-form video. This partnership adds depth to the company’s video development capabilities and can aid all Time Inc. brands’ increasing video production efforts, especially with regard to breaking or trending news. All of this serves the company’s mission to deliver premium video storytelling across the digital, social, OTT and film ecosystem.
The Wochit platform supports all forms of video production, with its sweet spot of real-time, short-form video. Through this partnership, Time Inc. video producers can now incorporate Wochit’s technology into their daily editorial workflow to facilitate the rapid generation of engaging video stories published and distributed across their brand sites and social channels.
These resources will add to Time Inc.’s video transformation and growth trajectory. The company is currently on pace to create more than 40,000 pieces of video content in 2016. It is achieving across-the-board gains in consumption, with 23 brands recording at least double-digit year-over-year percentage growth in video views; nine brands are enjoying in triple-digit growth; and seven have achieved quadruple-digit growth.
“Partnering with Wochit gives us a powerful tool to further accelerate the volume of our real-time video productions, which we can integrate at the deepest levels across our sites and social channels,” said Brandon Fong, Vice President, Business Development, Time Inc. Video.
“We are honored that one of the world’s most esteemed publishers has selected our technology as a critical part of their forward-looking business strategy and commitment to online video,” said Drew Berkowtiz, Wochit Senior Vice President. “We are excited to support the content creation goals for Time Inc.’s respected brands as they continue to engage and grow their digital audience with video.”
About Time Inc.
Time Inc. (NYSE:TIME) is one of the world's leading media companies, with a monthly global print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month, including over 60 websites. Our influential brands include People, Sports Illustrated, InStyle, Time, Real Simple and Southern Living, as well as more than 50 diverse titles in the United Kingdom.
Wochit is a video creation platform empowering newsrooms, creators and brands to capture and expand audience attention through the power of social video. Founded in 2012, Wochit makes video accessible for anyone to produce and share at scale across all social and digital platforms. With Wochit, videos can be created quickly, using pre-negotiated, rights-cleared assets from AP, Reuters, Getty, Bloomberg and many more sources. Wochit is the winner of both the Gutenberg Prize for its disruptive technology in the field of journalism and Digiday’s Best Video Technology Innovation for its significant impact on clients’ bottom line. As video consumption and share of overall online audience continues to multiply, organizations of all sizes are under increasing pressure to make video a standard to all owned content practices. Wochit makes this possible in one efficient platform, and does so on behalf of media brands worldwide including Gannett, AOL,The Week, Die Welt, Der Spiegel, ProSieben, YLE Kioski, NRC Media and La Repubblica. The Company is backed by Cedar Fund, Greycroft Partners, Marker LLC and Redpoint Ventures. Wochit is based in New York, with offices in London and Tel Aviv. Find out more at www.wochit.com