Our Vision
“The future of local journalism depends on innovation. We need to find new ways to tell stories, new ways to engage audiences, and new ways to make money. If we don’t innovate, we will die.”
Thinking Anew
There’s an old saying about the risks of hurtling into the future with your eyes fixed on the rearview mirror. Unfortunately, that’s how the legacy news industry seems to be approaching fundamental changes in how people consume news. The technological and societal shift from newspapers to websites, to streaming, to social media has upended news business models that have existed for over a century. These innovations demand adaptation, but much of the industry seems determined to cling to outdated practices while hoping for different results. This is a recipe for failure.
By studying how content is being created, funded, and distributed, N2 has identified a solution that could be much simpler than previously thought. N2 is developing a better news product that is hyperlocal in focus, readily accessible across multiple distribution methods, and sustainably funded through contracts, advertising, and licensing.
With a state-centric and local focus, N2's locally-assigned reporters will produce daily enterprise, investigative, and human-interest stories that truly inform the public with a level of sophistication and depth they desperately need. N2 is poised to transform the local news industry upon its launch.
A Seismic Shift
20.5% of U.S. consumers watched only broadcast TV in 2024
95% of all adults subscribed to an SVoD service in 2024
290.7M U.S. SVOD subscribers in 2023
$127B OTT content spend in 2023
$144.0B total U.S. OTT revenue in 2023
83% of U.S. consumers subscribe to at least one OTT subscription
50% of U.S. adults get news from social media
8% of U.S. adults get their news from newspapers
0%: SVOD companies offering a single minute of original news programming
89% of U.S. households now have broadband Internet service
Variety’s Dare to Stream Report | US SVOD Subs To Reach 450M by 2026
Local News on VOD
Substantial Investments in Creative Content
In 2023 alone, streaming video-on-demand (SVOD) platforms invested a staggering $243 billion in original content, often with little regard for traditional viewership metrics. As Netflix's Chief Content Officer and Co-CEO, Ted Sarandos, explained, "Subscriber growth, not ratings, drives our revenue." This focus on subscriber acquisition explains the immense investment in content designed to attract and retain viewers.
Historically, local news has been a cornerstone of broadcasting, consistently drawing large audiences and serving as a lead-in for prime-time programming. Yet, despite the proven demand for local news, streaming platforms have largely overlooked this vital content category, offering only rebroadcasts of existing news programs.
Given the explosive growth of VOD and OTT subscribers and the enduring demand for local news, it's surprising that N2 stands alone in recognizing the potential of streaming platforms to fund and deliver high-quality local journalism. We believe this is the future of local news — a future where communities receive the vital information they need in a sustainable and accessible way.
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A New Media Company
N2 is a content production company funded similarly to other streaming content producers, generating revenue from platform production budgets financed by existing subscribers. However, N2 specializes in producing local news content.
Our model eliminates concerns like "subscribers," "churn," "clicks," or "ads" as revenue sources, as these are not essential for our reporting.
In addition to funding from streaming platforms, N2 plans to generate income by licensing content for redistribution, including linear broadcasting and print reproduction. We will also offer ad-supported versions of our stories on the N2 website to bolster financial sustainability.
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A Focus On Journalism
Unshackled from commercial breaks, fixed schedules, and advertiser influence, our journalists have the freedom to dedicate the necessary time to stories. Whether a report requires 30 minutes or an hour, they have that flexibility, unfettered by network time constraints.
N2 stands out with its unique ability to localize nationally significant stories for a streaming audience. For example, we can simultaneously cover national issues like women's health access restrictions with a localized focus on the same day, later compiling these reports into a national documentary. The potential impact is profound.
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Reinventing News Delivery
Our news report eschews live broadcasts, fancy sets, and filler segments like celebrity birthdays or traffic reports. Instead, the spotlight falls squarely on our dedicated journalists and partners.
Our reporters tell their stories from beginning to end. All editorial decisions are made by professional editors and journalists embedded in the communities they cover.
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A Modern News Experience
No news platform currently allows seamless tracking of stories from initial report to the latest update - until now. Our platform simplifies discovering and viewing stories on any subject across all states. Want to follow a county commission scandal? Easy. Need email updates on legislative proposals? Done. Prefer to binge-watch comprehensive coverage? No problem.
Moreover, we innovate by offering a streaming platform that empowers viewers to select what they watch and when. Browse our comprehensive story list and tune in at your convenience, giving you full control over your local news experience.
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Platform Benefits
“Subscriber growth, not ratings, drives our revenue.” – Ted Sarandos, Netflix Co-CEO and Chief Content Officer
N2 breaks the mold of traditional local news, prioritizing subscriber growth over ratings. This innovative approach, championed by Netflix's Ted Sarandos himself, focuses on top-tier journalism that resonates with viewers, minimizing churn and maximizing value.
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