Press Association invests in Wochit
January 19, 2017
PA Group – the parent company of the Press Association (PA), the national news agency for the UK and Ireland – has made a strategic investment in the social video creation platform Wochit.
Wochit enables content producers, including media and publishing companies, to create socially-optimised videos quickly. PA joins a growing list of global media brands taking a stake in the ongoing development of the video platform, including Germany’s ProSieben, and Singapore Press Holdings’ SPH Media Fund.
PA Group’s investment will contribute to the development of new tools and features to further enhance Wochit’s technology, while supporting the expansion of Wochit’s business around the world. The relationship also sees a selection of PA’s News, Sport and Entertainment content added to Wochit’s proprietary library of rights-cleared assets, a resource that allows content creators’ to rapidly produce video packages on trending topics.
Clive Marshall, Chief Executive Officer of PA Group, said: “As the demand for video continues to grow across digital platforms, it’s vital that publishers have access to technology that enables them to create high quality content easily and at scale. Wochit’s platform has already had a positive impact across the media industry and beyond, and I’m delighted that we can be part of its ongoing development. Wochit is a natural fit for the PA Group – our shared objective is to enable compelling storytelling across a range of platforms, particularly as customers and end-users look first to the visual components of stories.”