AOL, formerly known America Online, is one of the major players in the online products and branding marketplace. Keeping in line with trends, the company launched its premium video content arm, AOL On Network, this past April, and has been looking to make a splash in the increasingly crowded social online video sphere. In a move that aims to bolster AOL On's content and attract a younger and diverse audience, the company signed a deal with Vibe Media to syndicate their Hip-Hop and lifestyle clips, according to an exclusive report from media business site TheWrap.
"This is an audience that is consuming content over mobile, desktop and multiple devices in a way we believe people will be consuming in the future," Frank Besteiro, head of business development at AOL Video, said in an interview with TheWrap. "We need to talk to them."
The partnership could be a lucrative move for all involved, especially since online video content has become increasingly popular over time. As part of the deal, the AOL On network will handle all the back-end technology that supports Vibe Media's video and content management system. AOL On will also handle ad sales and will share the revenue accordingly.
The company will inherit over 1,800 videos as part of the deal, potentially spreading content to a brand new audience for Vibe Media. Like many similar ventures, the space will be operated with the support of online advertisement.
Vibe Media, which backs music mag VIBE and lifestyle publication BlackBook, was formed at the top of the year after a deal made by parent company Vibe Holdings and InterMedia Partners combined the VIBE, Uptown and BlackBook magazine properties into the media company. Retired NBA great Earvin “Magic” Johnson serves as the chairman for Vibe Holdings.
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