Member Article

Revealed: The tech firm that the Press Association is backing to shake up online video

The parent company of the Press Association, the PA Group, has made a strategic investment in social video platform Wochit, joining a string of international media giants who have so far backed the firm.

Wochit, which has its European headquarters in London, has developed a platform which allows content producers to create socially-focused videos, quickly and at scale, and already counts the likes of Change.org and Time as users.

The latest undisclosed investment, which adds to the $13m backing the firm received from Germany’s ProSieben and Singapore Press Holdings’ SPH Media Fund last year, will support the development of new tools and features on Wochit’s platform and support its global expansion.

It will also mean that content creators will now have access to a selection of the PA’s news, sport and entertainment content, which Wochit says will allows users to rapidly produce up-to-the-minute videos on trending topics.

Clive Marshall, Chief Executive Officer of PA Group, commented`: “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.”

Dror Ginzberg, co-founder and Chief Executive Officer of Wochit, added: “Wochit is honoured to receive the support of one of the world’s most widely-recognised media companies. We view this investment as a strong statement of the value we provide to our clients worldwide.”

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