Mfarhanonline Social Media News: The Associated Press, The New York Times Co., The Washington Post Co. and several other news organizations banded together Thursday to launch a new company called NewsRight. Its goal: let news orgs see how widely their original reporting is being spread, and let them easily license content to interested partners. Following three years of planning, NewsRight’s industry reach is already substantial. It has 29 co-investors and 30 additional participating companies, representing more than 800 web sites of U.S. newspapers. David Westin, former ABC News president and NewsRight’s founding CEO, hopes the company will help sustain original content production. NewsRight’s News Registry platform tracks websites, blogs and other Internet aggregators to measure the spread of its participants’ content. “NewsRight is designed to address an issue in the marketplace of an increased appetite for news but some real challenges to supply,” Westin told Mfarhanonline . “There is a flaw in the business model right now. Value is not going to those who pay, and we want to correct the imbalance.” The company provides publishers with strings of HTML code to insert in their stories’ headlines and text, so they can track the spread of each piece of their content. The encoded stories report to the registry, showing where and when a story is reblogged and read. SEE ALSO: 6 Game-Changing Digital Journalism Events of 2011 Though Westin hopes NewsRight will help correct the broken business model in the new industry, NewsRight does not tell its publisher partners what to do with its information. Publications can chose if they would like to do nothing, believing their contents’ aggregation promotes their brand, seek licensing fees individually or join with other participants to obtain licensing through N! ewsRight . Do you think NewsRight can bring extra revenue to a depleted media industry? Let us know in the comments. Image courtesy of iStockphoto , fotosipsak More About: Associated Press , Media , new york times , news aggregation , online news For more Business coverage: Follow Mfarhanonline Business on Twitter Become a Fan on Facebook Subscribe to the Business channel Download our free apps for Android , Mac , iPhone and iPad Social Media reviews series maintain by Mayya
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