Before looking at ways you can use News and Financial New APIs let’s start by getting some perspective on cost and what you actually get for that cost and the difference between getting news from a News API vs getting news in other ways.
How Much Do News APIs cost?
The cost of using a news API can start from around $25 a month, approximately $15 more than the average subscription to a single digital newspaper. Currently, a digital subscription to The Economist would cost you $99 a quarter, the New York Times charges up to $8 every 4 weeks.
If you are still buying a daily newspaper in paper form you are probably paying between $54 and $83 a month, plus any delivery charges.
What Do You Get From A News API Subscription?
Depending on your payment plan, you will get access to thousands of news sources worldwide, you will also get access to thousands to millions of API calls per month returning information in JSON format which with the right programmer you can redistribute as curated content in your own websites or use for analysis within your own company software. With knowledge of how to use a News API, you can tap into a world of live news feeds, historical news feeds, trends & breaking news events around the world, monitor brands.
News APIs can also be used to constantly monitors social media to measure the popularity of articles. Another great API to pair with a financial news API is an exchange rate api.
Why Do Professionals Check The News?
Who Uses News APIs?
All over the world companies have been scrambling to get access to high-quality news data to deliver news data to customers as well as company decision-makers.
These include but are not limited to:
News websites that need curated news content and monetise their website with paid ads
Affiliate marketers use filtered curated news to validate people’s trust in products or stated trends. e.g. selling medical products it is useful to have articles that give independent validation to scientific claims.
Sellers who need to follow the news to understand impacts to their product supply chains and reasons for buyer trends.
Financial management institutions trying to gauge the impact of sentiment and emotions on stocks and crypto prices.
Academics need to validate the information from multiple reputable sources.
Data scientists doing Machine Learning and Natural Language Processing Projects.
Retailers monitor their brand image and check on their competitors.
Potential Benefits Of A News API
The difference is that a subscription to a news API can give you access to several thousand digital newspapers, current and historical editions, and across several languages. You can serve that content to your niche online communities and make a profit from it. In the article TOP 5 BEST WAYS TO MONETIZE A NEWS WEBSITE, there is detailed advice on how to make money from a news website, but first, you will need a way to feed your website news and that is where News APIs becomes useful.
Using a news API you will be able to curate news results for a niche audience and monetize a news website. Once you have successfully implemented your first news website, you will be able to use it as a template for new niche audiences.
Other Reasons For Using A News API
Creating a news website isn’t the only way to benefit from a News API. Here are ten more.
In this digital age of big data, we have lots of facts available, lots of software applications can pull numerical data, but without correlating numerical data such as stock and crypto prices to the news we don’t have answers and insights.
Correlating news with data we can answer questions like did the earthquake in Japan affect computer chip prices? Did Elon Musk’s latest announcement about Tesla accepting Dogecoin increase crypto prices? Companies can also use news in software applications to predict future numerical values of stock and crypto prices.
You might want to use the advanced capabilities of using news APIs in your websites and company software for automating the following:
- Researching Market Opportunities
- Researching Academic Writing Projects
- Understanding reasons behind selling trends/buyers or distributors going out of contact (e.g. understanding why it is no longer possible to buy a certain component)
- Finding reasons behind stock prices and crypto going up or down, using machine learning predictions using sentiment to predict future price rises and falls, recommending what to invest in next.
- Monitoring your own brand and competitor brands
- Getting the latest industry-related news for product development research.
- Analyzing trending articles on social media to get ideas on how to make your press releases go viral, predicting which stories will go viral
- Employee vetting
- Seeing trending articles on Social Media to determine what blog to write next for product promotions.
- Build your own recommendation system and generate related articles based on your audiences interest to maintain customer loyalty to the content you serve and keep them coming back to your website.
