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AP SEES THE FUTURE — AND IT’S NOT PRINT

November 5, 2010 by · Leave a Comment 

With many of its newspaper members facing the double whammy of a recession and intense Internet competition, the Associated Press announced Thursday that it is making a significant investment in its video operations. AP said that it is investing $30 million in high-definition video equipment and other digital gear in order to service its TV and Web clients more comprehensibly. The company says it foresees demand for news videos expanding as consumers increasingly turn to mobile phones and other gadgets such as Apple’s iPad for instant access. AP reported revenue from its video operations should reach $150-160 million this year, up from less than $130 million two years ago. Revenue from member newspapers have fallen by 36 percent over the same period to $140 million from $220 million.