Multiscreen service provider Synacor is adding a new dimension to its portfolio, announcing that it will launch syndicated content targeted at desktop and mobile online video viewers. Its first distributor: BuddyTV, which says the new content will expand its own opportunities to draw in revenue, primarily through advertising.
"Synacor's syndicated video is content our audience wants, which means happy BuddyTV visitors and a new revenue opportunity for us," said Andy Liu, BuddyTV co-Founder and CEO, in a joint statement. "We're excited to work with Synacor and appreciate the new monetization opportunity Synacor's syndicated video brings us, all without any production investment."
Synacor has struggled to gain traction in the online video market over the past couple of years. Competing head-to-head with Adobe Primetime for authentication services proved difficult. The company battled with activist investors that wanted Synacor to stop hunting for a new CEO and put the provider up for sale as its stock dropped. It also cut 20 percent of its workforce in early October to shore up cash.
The company's latest move illustrates that there's still room to explore new avenues in the growing OTT market. Whether that will translate to a cash boost remains to be seen. But Synacor is clearly responding to two trends that have become evident over the past year: Content remains king, and content producers are continuing to search for online video outlets beyond YouTube.
Synacor's syndicated content will mostly be short-form video, what its president of sales and marketing, George Chamoun, calls "video snacks." Its content lineup will include a daily program titled Don't Miss, which highlights upcoming TV shows. It will also produce content around news, sports, politics, technology and healthy living.
"Consumers enjoy short video snacks, while publishers enjoy the new revenue stream," Chamoun said. "Synacor is thrilled to be offering a fast and easy syndicated content solution that so many publishers are seeking to increase user engagement by transforming display ads into entertaining video ads."
Synacor's content will be available on BuddyTV's homepage only for now, viewable through web browsers. It plans a mobile release in the near future.
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