FRANKFURT (Reuters) - RTL Group's online video company BroadbandTV (BBTV) and news website Huffington Post announced plans on Tuesday to launch an online video journalism network as media groups vie for younger audiences less attracted to traditional media.
RTL, the European broadcaster majority-owned by German media group Bertelsmann, said on Monday it was creating a team to expand its online video business, especially in North America.
The new citizen journalist network, called Outspeak, will combine BBTV's 4.5 billion monthly views and The Huffington Post's 214 million monthly unique visitors, the two companies said in a joint statement.
Users will be able to create and upload content as well as make money from their postings. "We have ambitious plans to create a network of thousands of video content creators and generate billions of video views by the end of next year," Huffington Post chief executive Jimmy Maymann said in the statement.
A multi-million dollar investment has been made to develop the Outspeak brand, the companies said, without giving a specific figure.