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Former NBC News Exec Dramatically Transforming Journalism with “Newsy”
“Design is not just what it looks like. Design is how it works.” Steve Jobs (1955-2011)
Jim Spencer has helped lead several successful Internet start-up and established online companies. Spencer was Vice President of Content and Answers at Ask Jeeves (Ask.com), where he was responsible for all search queries and helped lead the company to a top 15 website and through a successful initial public offering.
Prior to Ask Jeeves, Spencer was the General Manager of News and Information Programming at AOL (News, Sports, Health, Research and International) leading the content, business and partnership operations for one of AOL’s major business units.
The Newsy president also served as director of strategic partnerships at NBC for MSNBC.com, leading the direction of the MSNBC.com website and the coordination of the newsrooms of NBC News in New York and MSNBC’s newsroom on Microsoft’s campus in Redmond, WA.
Spencer began his online career as General Manager of New Media at Multimedia, Inc. Prior to graduate school, he represented and distributed motion pictures, including Academy Award-winning movies, foreign films and U.S. independent cinema.
The multi-talented media maven earned his M.A. in journalism at the University of Missouri-Columbia and his B.F.A. from New York University’s Film School.
In 2008, Spencer launched Newsy — a multi-source, multi-platform video news company that has received critical acclaim from broadcast, print, and online news sources. He currently serves as the company’s president and founder.
According to Newsy’s website, “It’s the only news service that allows users to compare bias by highlighting nuances in reporting. Through short, professionally-produced videos for mobile devices and the web, Newsy provides context with convenience – making you smarter, faster. It’s MSNBC next to Fox News, CNN next to ABC, The Huffington Post next to the Daily Beast. From Tech Crunch to TMZ, it’s a broader view, in a concise format.”
Lead411 recognized Newsy as one of the “2010 Hottest Companies in the Midwest”. The company went on to win the 2011 Appy Award, in the news category, defeating CNN and Flipboard.
From The G-Man recently conducted an exclusive interview with Spencer to find out more about his trailblazing company, future goals, and how it has literally transformed the journalism industry over a three-year period.
G-Man: What was the inspiration for Newsy?
Jim Spencer
Spencer: People have become more aware of a bias in the media and they have become more interested in multiple sources for news. Fewer and fewer people are relying on just their local newspaper or the evening news as their sources of information.
G-Man: What convinced you, beyond all doubt, that the time was right for a state-of-the-art, mobile news service?
Spencer: Five years ago, there were predictions about the upcoming proliferation of mobile devices – these forecasts have not only been realized but surpassed. Also, YouTube and Hulu had proven that online video would be the next popular medium. We started the company in 2008 – and launched the right product at the right time.
G-Man: Thus far, what has proved to be the most challenging aspect of building, marketing, and promoting Newsy?
Spencer: As a startup, we had to carefully choose where to spend our limited resources. We spent it on getting the product right – our advertising budget was limited. We’ve garnered a lot of press and attention because of our unique offering of highlighting the key differences in reporting. For example, our apps have been promoted by Apple (in iTunes) and Google (in the Android Market), which helped immeasurably.
G-Man: What one business decision do you wish you could go back and change regarding the creation of your media/news company?
Spencer: Honestly can’t think of one – we were spot on timing wise with the launch of our products and relocating the company from San Francisco to Columbia, MO to partner with the Missouri School of Journalism was one of the best decisions we made.
G-Man: What is your response to those who believe a company like Newsy is doing a disservice to the public by attempting to cover complicated and important news stories in two-to-three minutes?
Spencer: Every news service is going to abridge a story, there is only so much information that can be substantively conveyed in a given newscast. That’s why our format is so useful. In two-to-three minutes, the user isn’t just getting one top-down approach to the story – they see the story from a number of different perspectives. Newsy links to the original sources so users can dig deeper into the issues.
G-Man: What do you think Edward R. Murrow or Walter Cronkite’s reaction would be to Newsy?
Spencer: Ha, I don’t want to speak for those legends … perhaps they would appreciate that information is becoming more easily available and transferable. I think they would also appreciate Newsy’s mission – that multiple sources help tell the “real story.”
G-Man: What is your greatest concern regarding the current state of journalism and will you somehow use Newsy to address it in the near future?
Spencer: Newsy certainly addresses my biggest concern: the increase in opinion news. Also, the increased polarization of media companies and the effect that has on consumers (people’s opinions become more extreme because their initial views are corroborated and they find out their views are shared by others).
G-Man: Your company seems to place a great deal of emphasis on diversity in its news coverage, especially where your news anchors are concerned. Was that a major goal when you launched Newsy?
Spencer: Yes, we look for diverse story topics, feature various anchors and use diverse sources in our stories. When we launched the service, one of our early users said they love Newsy because it introduces them to sources they wouldn’t normally find on their own. I love that.
G-Man: Speaking of diversity, do you have any plans to expand your coverage by reaching out to or partnering with Black, Chinese, Latin, or Russian news organizations, be they independent or mainstream?
Spencer: Newsy’s current international plans are to produce videos in a wide range of languages (Mandarin, Spanish, Korean) – we plan to launch videos with native-speaking anchors as well as videos with subtitles.
G-Man: Print and broadcast news organizations are rapidly being replaced by the Internet, as more and more people seek alternative news sources and viewpoints. At some point, ABC, CBS, CNN, FOX News, MSNBC, NBC, and even PBS may decide it’s in their best interest to “borrow” the Newsy formula. Does that worry you in any way?
Spencer: Not too much .. we have an innovative model with one of the world’s best journalism schools and an economically viable business model that makes us a formidable contender. Also, Newsy is a small, agile company that can innovate quickly and often.
G-Man: As you are well aware, there are many in the country that cannot afford computers or high-tech gadgets to follow Newsy on a regular basis. Moreover, this digital divide will have dire consequences on millions of young people in the future, particularly in the inner-cities. Having said that, would you consider collaborating with public schools, nationwide, and offer Newsy as a teaching tool in underserved communities?
Spencer: We would love an opportunity like that. I’m hopeful that as cheaper tablets come on the market, they will help to bridge the digital divide. Newsy currently is used as a teaching tool by middle school current events teachers. Newsy is also used by ESL teachers – they love the transcripts, worldly topics and that the videos can be rewound. For example, The English Blog is an international ESL teaching hub that uses Newsy videos.
G-Man: Complete this sentence: My ultimate goal is to have Newsy….
Spencer: My ultimate goal is to have Newsy be the first name that comes to mind when people think of mobile video news and multisource video journalism.
G-Man: Finally, what advice would you offer to young people that are currently pursuing, or thinking about pursuing, careers in journalism?
Spencer: Don’t confine yourself to legacy models – make sure you gain experience in the digital space. It’s also important to be well rounded. It isn’t just about writing stories, it’s about producing content on every level and having the ability to market that content as well.
In April of 2011, in collaboration with the Newsy organization, From The G-Man began publishing many of the Newsy videos on its site. The videos continue to play a significant role in the growth and success of this independent news and information source.
Photo credit: Jim Spencer
