Quebec-based Mediascrape, a video news aggregator which rebroadcasts news conferences and other feeds from around the world, received over $3 million in funding last week from Canadian venture firm Paradigm Capital.
Mediascrape’s innovative business model helps traditional broadcasters monetize their existing content by distributing it throughout the world, and in the process let users tune into broadcasts by region. Mediascrape also adds functionality by transcribing reports into English and integrating map functionality. Future plans include letting the users at raw video feeds so they can transcribe and edit them. This will presumably add scalability to Mediascrape, though it remains to be seen what other benefits opening the feeds bring to the users themselves.