AOL, which spun off from Time Warner almost a year ago, is bringing all of its video assets under a single unit as it continues to leverage online video to help it climb back to relevance.
Creating an AOL Video unit will allow the Internet portal to better drive the creation, production and syndication of high-quality online video content for its users. The company said it had more than doubled its video streams to 493 million in October, from 192 million in July.
"In just a few short months, you can see by the data that our commitment to video is really paying off for users and advertisers," said David Eun, President of AOL Media & Studios. "We have no doubt that video is the future of content on the Web, and AOL's goal is to be the market leader at every point on the value chain. Our distribution capability is the keystone that links the high-quality video content we create at AOL to the premium publishers that carry it, the engaged users who consume it, and the premium brands that partner with us to create it."
AOL has closed deals with more than 20 premium content partners and digital studios in the second half of 2010, and announced several new video franchises including partnerships with Vuguru, Ben Silverman's Electus, Next New Networks, Telepictures Productions and the Ellen DeGeneres Show Web site and MarloThomas.com.
Ran Harnevo, co-founder of 5min Media, which AOL acquired in September, was names SVP of AOL Video, and will focus on creating more partnerships with video creators, increase the presence of video across AOL sites, and oversee the distribution of content from AOL video partners across the Web. He will also lead the development of a single online video distribution and syndication platform with advanced functionality for an improved user experience.
AOL's acquisition of 5min Media brought distribution and market reach to more than 800 premium digital publishers with a combined 300 million monthly UVs, and 350 million monthly video streams.
- see this release
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