ASX-listed Newzulu - named because its sees itself as a new tribe of journalists that can operate anywhere, anytime – is partnering with news wire services and companies across the globe to deliver breaking news video.

The company is riding the wave of crowd-sourcing that has challenged traditional publishing companies such as Lonely Planet, which has lost significant market share to Trip Advisor and Expedia.

Executive chairman Alex Hartman, who co-founded Newzulu last June – says the company can deliver live streaming through video content using the theory that anybody can be a journalist, so long as they are armed with a smart phone.

To prove his point, Newzulu sold footage of formula one champion Michael Schumacher being rescued from the French Alps for more than €150,000 ($224,000) after he fell and slammed his head on a rock while skiing last December.

It's news wire partner, Agence France-Presse pocketed 30 per cent in the deal with the rest split 50-50 between Newzulu and person who sent the video.

"So he went away with over €50,000 in his pocket," Mr Hartman said.

"It's eliminated the need for the broadcasters to send a satellite track or news helicopter to the same event and really reducing their costs in news gathering but also hopefully editorially getting a better view of the event as it's happening rather than after it's happened."

ABC managing director Mark Scott says the public broadcaster intends to axe its broadcasting van fleet in favour of renting vehicles, like other commercial networks, as a cost saving measure after the Abbott government cuts its funding by more than $250 million over five years.

Newzulu launched a joint venture with the Australian Associated Press this week to allow the wire service's journalists to live steam video from their smart phones and help launch the company across the Oceania region.

AAP editor in chief Tony Gillies said: "we're excited about this partnership. It aligns perfectly with our strategy to deliver a highly relevant, high quality video service to our valued breaking news customers."

Newzulu already works with US media outlets including Fox News, The Wall Street Journal and USA Today.

It hopes to expand its presence in the North American market through the acquisition Canadian social media marketing company Filemobile. It has already tipped in $5 million, and has launched a $17 million capital raising to complete the deal.

But Mr Hartman insits that the company is not out to compete with established media companies, rather compliment their existing operations.

He said Newzulu focused on breaking news, not investigative journalism or opinion based news.

Mr Hartman also said the company did not instantly post videos. He said about software and about 40 journalists screen footage from citizen journalists – which has about a 45 second delay when streamed live - for copyright issues, profanity and nudity. The company's journalists also verify content.

"If we are sent a photo of a bombed building in Crimea, the software can tell us that the photo has not been Photoshopped and our human editorial team will call the Red Cross or an agency on the ground or independent group to verify who bombed it before we send it down AFP's news wire and AAP's news wire in Australia.

"The validation is really important because, obviously a lot of news now breaks on Twitter and alike but it has no [verification]. Journalists know how to check the facts and we have a team of 40 journalists around the world doing that."

Newzulu operates in five countries with bureaus in Sydney, London, Paris, New York and Toronto.