News You Can Use: The New York Times To License Web Videos

nyt_video_3.17.10.jpgThe New York Times struck a deal with Thought Equity Motion — a company that also licenses videos for National Geographic, Marvel Entertainment and the Smithsonian Channel — last month, allowing it to present both edited and raw footage from its video archive for licensing to others, such as filmmakers and educators.

General manager Michael Greenspoon explains the process:

From our perspective it is capturing all of the video we have and then making an editorial decision in the newsroom about what is for sale and what is not. Provided it gets newsroom approval, then all of it gets transmitted to Thought Equity where they catalog and sell it. Thought Equity then wraps the video in metatags and makes it available for licensing.

The New York Times is hoping this new venture will present an additional revenue stream. According to Thought Equity Motion, a clip could cost producers anywhere from $149 for one-time use by, say, a non-profit, to $3,200 for use in a television ad project.