Zig Media

Last updated

Zig Media
Company typePrivate
Industry Mass media
Founded2016
Headquarters New York, NY
Key people
Joshua James, Adam Platzner, John Tornow
Products Mobile apps and news media
Website www.zig.com

Zig Media is a mobile-media technology company based in Brooklyn, New York owned by Billboard-Hollywood Reporter. [1] [2] [3] [4] Called an "Instagram of news" by The New York Times, the company's platform distills original and sourced content into images and video, then distributes it through mobile phone and desktop computer applications. [2] [5] [6] Fast Company reported that Zig had 400,000 users as of June 2018 following investment from Graydon Carter, Ronald Meyer, Quincy Jones, and LiveNation. [7]

Contents

History

In 2016, cofounders Joshua James and Adam Platzner approached Vanity Fair editor Graydon Carter to offer a modern, visual solution to changing magazine tastes and consumer news consumption. [2] [8] The New York Times reported that "at the time, Mr. Carter was mulling the state of news; he recalled an assistant pointing out to him that millennials ‘think in more visual terms, than in textual terms.’" With cofounder John Tornow, James and Platzner built an algorithm that captures personalized consumer data from social media preferences. The technology feeds news articles in the form of picture-heavy content back to each consumer according to their tastes. [9]

Zig’s iOS application launched in January 2018. Reported by Billboard , first investors included Graydon Carter, Ron Meyer, and Quincy Jones. In May 2018 NBC News reported additional funding of $1.6 million from Alan Docter, Aviv Nevo, and LiveNation. [10] In October 2018 The Hollywood Reporter wrote that Valence Media, part of Eldridge Industries, invested in Zig. [11] In 2019, The Hollywood Reporter-Billboard acquired Zig Media. [1]

Technology

Users sign up for the Zig app or use Zig distribution channels to provide personalized media-consumption preferences to the platform’s algorithm. [12] The platform returns media in a visual format based on the user’s personalized preferences and tailors each news feed over time based on additional consumer data. [13] The technology tracks stories that users skip and click to optimize the news feed for each user. [14]

In 2018, Fast Company compared Zig to Apple News and Flipboard with "more images and more personalization." [7] CNBC explained that Zig "emphasizes photos over text" and reduces the time that consumers use to peruse the internet for news. [4]

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References

  1. 1 2 "Billboard-Hollywood Reporter Group Acquires News App Zig". The Hollywood Reporter. 11 June 2019. Retrieved 12 June 2019.
  2. 1 2 3 Grynbaum, Michael M. (15 January 2018). "Graydon Carter, Ex-Editor of Vanity Fair, Invests in an App". The New York Times. Retrieved 30 September 2018.
  3. ↑ "Live Nation, Graydon Carter, Quincy Jones and Ronald Meyer Invest in News Feed for Millennials: Zig". Billboard. Retrieved 30 September 2018.
  4. 1 2 "Social media entrepreneurs with big-name backers hope to change the way people read news". CNBC. 16 January 2018. Retrieved 30 September 2018.
  5. ↑ "Start-up Zig Media seeks to shake up your pop culture news feed". CNBC. 16 January 2018. Retrieved 30 September 2018.
  6. ↑ "ZIG Media: The "Instagram" of News". Cheddar. Retrieved 14 October 2018.
  7. 1 2 "Why are media veterans investing in this startup news app?". Fast Company. Retrieved 30 September 2018.
  8. ↑ "He told Bozoma Saint John to work for Uber. "Of course, I hung up on him."". Fast Company. Retrieved 29 November 2018.
  9. ↑ "Media Trends: The "Instagram for news" expands". Axios. Retrieved 30 September 2018.
  10. ↑ "What's Graydon Carter up to? Meet Zig, a media app that just raised $1.6 million". NBC News. Retrieved 30 September 2018.
  11. ↑ "Valence Media Invests in News App Zig". The Hollywood Reporter. 9 October 2018. Retrieved 9 October 2018.
  12. ↑ "Graydon Carter backed media platform Zig launches". Cheddar. Archived from the original on 3 February 2018. Retrieved 30 September 2018.
  13. ↑ "New Mobile Platform ZIG Delivers Customized Content". Media Post. Retrieved 30 September 2018.
  14. ↑ Colt, Josie (3 February 2018). "Can't Get Your News From Facebook Anymore? Try These 6 Apps". WIRED. Retrieved 21 November 2018.
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