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UGC video licensing company announces £2.4m investment

newsflareA content licensing company which sells user-generated video to regional newspapers has announced it is receiving a £2.4m investment.

Edge Investments has announced it is putting the money into Newsflare, which distributes video to media organisations across the world on behalf of those who capture it.

Newspapers to have purchased video from Newsflare since it was launched in 2013 include the Manchester Evening News and Glasgow-based Daily Record, as well as Trinity Mirror website Get Surrey.

Newsflare shares 50pc sales commission direct with video uploaders and is free to use.

Jon Cornwell, the company’s co-founder and chief executive, said: “In the current era, we are living through the democratisation of video – nowadays anyone can capture startling footage that can be shared in an instant: Dash-cams, GoPros, smartphones – devices capable of recording high-resolution video are everywhere.

“The Newsflare platform quickly connects the right video with the right buyer in order to meet the exploding demand for eyewitness video from a growing array of media clients from all around the world.”

Edge Investments director David Fisher added: “This is an exciting moment for both Edge and Newsflare.

“We believe the Newsflare founders Jon Cornwell and Bevan Thomas, and their dedicated team, have identified one of the key ways in which media consumption and engagement is changing and we are thrilled to back Newsflare at this crucial stage of the company’s development.”