AOL is a website which offers e-mail, instant messaging, news, cricket, sports, games, entertainment etc at one platform. Recently AOL announced that they acquired a video syndicate platform 5min media. 5min media is a type of online video library and if the sources are believed then it is a leading syndicate platform. The AOL guys want to take the advantage of this leading platform and it becomes very famous as the number of visitors crosses 160 million marks. In the 5 min media videos are divided into 20 categories and 140 subcategories. The content of the library is as diverse as you think; it includes yoga, health, entertainment, tech videos, fitness routines and many more. Considering the fact, it integrates web contents of 1000 leading media companies. Here we discuss about the philosophy behind this collaboration of these two big players.
5min video collaboration is not only limited to the leading companies but they also collaborate with independent professional video makers. As per CEO of AOL, the acquisition of 5min media is one of the most important steps taken by the organization, this step should be seen as the betterment of AOL in the video opportunity on web. He also said that AOL is trying to create a video ecosystem in the next decade. As the online videos are creating a rage among users, the 5 min video will be the best complement to the video capabilities on web. AOL is also believed to provide a value chain that serves end-to-end video offering and it creates contents by distribution and sharing of the consumer experience.
Ran Harnevo, the co-founder and CEO of 5min video said that the excitement level is same in the both organization for the collaboration and both of them complement each other. He also said that now we have seen a rapid growth and success as a single player, we want AOL as a big platform as it has vast library and audience base. We will utilize the syndication and distribution of the contents and also it will become a bigger platform the publishers we serve. As the AOL is one of the most popular website among web users, the 5min video guys want to take this opportunity from both the hands and it is same for AOL also. They also want to utilize the powerful features of 5min video to provide broadband support and lifestyle videos. The collaboration is also believed to bolster the AOL appeal to the advertisers as online social networking and online videos market is booming like never before. So you can say that this collaboration is just the need of the time.
This 5 min media and AOL collaboration is due to the tough competition from other websites and online video providers. As per the market research over 1million people hits these videos daily and audience is more interested in viewing everything online. The audiences also want these videos real time so 5min media the best deal by AOL.