Lee Enterprises and Perplexity Partner to Revolutionize Local News with AI Innovation

Rhea-AI Summary

Lee Enterprises (NASDAQ: LEE) has partnered with Perplexity through their Publishers' Program to enhance local journalism with AI technology. The collaboration focuses on two main initiatives: advertising innovation using data-driven solutions and future-ready strategies for content monetization.

The partnership aims to transform content delivery, deepen audience engagement, and create new revenue opportunities. Perplexity's AI search engine, which processes over 400 million queries monthly, will help Lee optimize advertising campaigns and strengthen local journalism across its 70+ US markets.

This strategic move positions Lee at the forefront of AI-driven media transformation, with the global AI market projected to reach $500 billion by 2025.

Positive

• Strategic partnership with Perplexity AI expands digital capabilities
• Access to Perplexity's platform processing 400M+ monthly queries
• New revenue opportunities through AI-driven advertising solutions
• Enhanced content monetization potential
• Market presence in 70+ US locations provides scale for AI implementation

Negative

• None.

News Market Reaction

+0.44%

1 alert

+0.44% News Effect

On the day this news was published, LEE gained 0.44%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DAVENPORT, Iowa, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Lee Enterprises, Inc. (NASDAQ: LEE), a leading provider of trusted local journalism across the United States, has announced a partnership with Perplexity, the AI search engine, through the company’s Publishers’ Program. This collaboration underscores Lee’s commitment to advancing local journalism by integrating innovative AI solutions that enhance content delivery, deepen audience engagement, and create new revenue opportunities.

By leveraging Perplexity’s advanced AI capabilities, Lee aims to redefine how communities interact with local news and advertising, offering personalized content experiences and opening new avenues for local businesses to connect with their audiences.

Unlocking the Potential of AI for Local Journalism

The partnership between Lee Enterprises and Perplexity focuses on two key initiatives:

• Advertising Innovation: Utilizing AI technology to empower local businesses with data-driven advertising solutions, optimizing their reach, and ensuring campaigns resonate with community needs.
• Future-Ready Strategies: Collaborating on scalable innovations to strengthen local journalism, explore new content monetization opportunities, and support advertisers in an evolving digital landscape.

Innovation with Integrity

“AI is reshaping the business models of industries around the world, and journalism is no exception,” said Kevin Mowbray, Chief Executive Officer at Lee Enterprises. “This partnership with Perplexity is a bold step forward in embracing change. By integrating AI into our operations, we’re excited to transform how we deliver news, support our advertisers, and engage with readers in ways that were never possible before. This is about creating a future where trusted local journalism thrives in the digital age.”

Dmitry Shevelenko, Chief Business Officer at Perplexity, added, “We started our publisher program to develop strategic partnerships with news organizations whose content informs the questions people ask. We’re glad to welcome Lee Enterprises, whose media organizations span more than 70 US markets, as one of our newest members. We look forward to working with them to leverage our technology to power new reader-first experiences and to ensure a healthy and active information ecosystem.”

The Scale of Opportunity

The global AI market is projected to reach $500 billion by 2025, transforming industries worldwide, including media. Perplexity’s conversational AI search engine processes over 400 million queries per month, highlighting the vast potential to amplify the reach of Lee’s trusted journalism. This partnership positions Lee at the forefront of the AI-driven transformation in media, unlocking opportunities to expand its audience and diversify revenue streams.

About Lee Enterprises

Lee Enterprises, Inc. is a trusted local news provider serving 73 markets in 26 states. With a dedication to quality journalism and digital innovation, Lee delivers valuable content and advertising solutions to its communities and partners. For more information, visit www.lee.net.

About Perplexity

Perplexity is the conversational 'answer engine' that draws from credible sources in real time to answer users’ questions with in-line citations. Founded in 2022 by former members of OpenAI, Meta, Quora, Bing, and Databricks, the company's mission is to serve the world's curiosity by bridging the gap between traditional search engines and AI-driven interfaces. Each week, Perplexity answers more than 100 million questions around the world. Perplexity is available online at www.perplexity.com and on iOS, Mac, and Android.

Contact:
IR@lee.net
(563) 383-2100

FAQ

What is the partnership between Lee Enterprises (LEE) and Perplexity about?

Lee Enterprises (LEE) has partnered with Perplexity to integrate AI solutions into local journalism, focusing on enhanced content delivery, audience engagement, and new revenue opportunities through advertising innovation and future-ready strategies.

How many markets does Lee Enterprises (LEE) operate in as of December 2023?

Lee Enterprises (LEE) operates in more than 70 US markets according to the announcement.

What is the monthly query volume for Perplexity's AI search engine in the Lee Enterprises (LEE) partnership?

Perplexity's AI search engine processes over 400 million queries per month.

What is the projected size of the global AI market mentioned in the Lee Enterprises (LEE) announcement?

The global AI market is projected to reach $500 billion by 2025 according to the announcement.