Congratulations to SendtoNews as they just announced that they have procured $3 million in seed funding to launch its sports video network. Official Release below!
SendtoNews Raises $3M Venture Funding from RevenueWire Co-Founders to Roll Out Sports Video Network
September 13, 2012– Digital news agency SendtoNews today announced that it has secured $3 million in venture funding from a BC-based investment group comprising the co-founders of RevenueWire Inc.: Don Wharton, Elton Pereira, Adrian Pereira and Myron Pereira. All The funds will be used to roll out a new North American digital sports video distribution network, the SendtoNews News Partnership Network™.
“We now have the financing to complete the launch of the continent’s first expansive sports video distribution network for the digital age,” said company CEO Greg Bobolo. “Initial interest from newsrooms is very high and we are in active discussions with more than 30 strategic partners.”
The SendtoNews News Partnership Network™ is a guaranteed, centralized network for multimedia sports content to be gathered and distributed across North America from the hyper-local to regional and national levels.
Traditional and digital news agencies who become partners in the News Partnership Network™ will instantly plug into a rich library of sought after, premium digital sports content and thereby access a wealth of new and innovative revenue streams that fuse the best of broadcast advertising with the customizability and monitoring of the internet.
Forging partnerships with more newsrooms across North America is enabling SendtoNews to:
- Boost its content offerings by acquiring more previously unattainable, premier sports multimedia content from leading content providers and sports organizations.
- Present unique and highly compelling advertising opportunities to leagues, teams, big brands and major advertising agencies looking to make efficient, mass-market buys to reach national, regional, local and hyper-local audiences.
The SendtoNews News Partnership Network™ is positioned at the convergence of two of the most powerful trends in media consumption and advertising. While online video viewership is on the rise, sports content accounts for about 50% of that viewership (gigaom.com).
At the same time, sports is one of the fastest growing segments of a $485 billion global advertising market. Spending on sports marketing and advertising by the top 50 North American companies was up 27% in 2010, and global sports spending is projected to increase from $114 billion in 2009 to $133 billion by 2013.
Elton Pereira said, “Viewers in the U.S. alone watch a total of 1.6 billion online sports videos every month, providing an attractive market opportunity for any company that can deliver and monetize quality online sports video at scale. We have observed SendtoNews rapidly emerging as a leader in this area.”
The proceeds from the private placement will be used for business development and working capital.
SendtoNews is a leading digital sports video news agency that syndicates premium sports video highlights to connect sporting organizations, news outlets and leading brands.
SendtoNews debuted its state-of-the-art, cloud-based multimedia distribution platform at the 2010 Winter Olympics and today distributes content for a growing roster of leading content providers and premier sports organizations including Major League Soccer, America’s Cup Sailing, the Western Hockey League and the American Hockey League.
Headquartered in Victoria with affiliate offices in Vancouver, Toronto, New York and San Francisco, SendtoNews is a trusted source of broadcast-quality sports highlights for thousands of newsrooms across North America and abroad. Including CBC, TSN, CTV, Global TV, ESPN, NBC, ABC, FOX, CBS, IMG Media, the Globe & Mail, Postmedia and others. For more information, visit sendtonews, follow @sendtonews or call toll free 1.855.590.1991.
Toll Free: 1.855.590.1991