- AP, Thursday, November 4, 2010 11:07 PM
The Associated Press said today that it's investing $30 million in its video operations so the news cooperative can deliver its reports in high definition to more than 1,000 broadcasters and Web sites
beginning next year. The financial commitment reflects the growing demand for high-definition video as high-speed Internet connections and new gadgets such as smart phones and Apple Inc.'s iPad have
created new ways for people to watch clips.
The not-for-profit AP has been boosting its video offerings to help offset a decline in the revenue that it gets from newspapers, once the
cooperative's financial backbone. Prompted by a steep decline in print advertising that began in 2006, the AP has lowered newspaper fees to help publishers cope. The cuts have dropped AP's newspaper
revenue by nearly half over two years, from about $220 million in 2008 to a projected $140 million this year.
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