ThomsonReuters: better late than never for mobile?
Jinfo Blog

11th May 2009

By Nancy Davis Kho

Item

On May 11 mocoNews.net (part of the ContentNext Media family) reported that ThomsonReuters plans to spend heavily to release mobile applications, playing a bit of catch-up with news rivals Bloomberg and AP. According to David Kaplan's full story (http://digbig.com/4yrtx): "the UK news services company will release its Thomson Reuters (NSDQ: TRIN) News Pro app for the iPhone and Blackberry. The company has been in cost-cutting mode since last fall's global financial collapse, Chris Ahearn, Thomson Reuters' president of media, told paidContent that the company was still moving forward on Thomson Reuters Markets CEO Devin Wenig's promise to invest $1 billion in building up its multimedia capabilities. That push revolves around ramping up its video capabilities for both TV and the web." It may be coming to the table late, but when Thomson Reuters enters a market it has the deep pockets to do it decisively. The company has to be looking aggressively at alternative revenue streams as the global recession hits a major customer segment, financial services, particularly hard. Besides cost cutting, it makes sense for Thomson Reuters to look for new (paid) ways in which to distribute their content. And as Smartphones continue to emerge with feature-rich updates, their utility in the enterprise environment can't be overlooked. Pair that with the digital natives entering the workforce each year, who are not only comfortable with a 24/7 connected lifestyle but feel bereft without it, and it becomes incumbent for all vendors to offer mobile solutions.

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