Aside from strengthening its mobile services, Yahoo wants to beef up its video advertising platform as well. Yahoo has just acquired leading online video platform provider, Maven Network for an approximately $160 million.
Maven Networks’ video platform, which is among the robust in the industry, is currently used to manage, distribute and monetize premium online video content for major media companies such as Fox News, Son BMG, CBS Sports to name a few. Combining this video platform with Yahoo’s library of professionally produced legally licensed video content and video advertising relationships with premium publishers would enable both companies to offer publisher a full portfolio of technology and media solutions.
Yahoo’s decision to acquire Maven Networks was brought about be its intention to invest in the Maven’s growing video business which continues to give premium publishers with both publishing and new advertising solutions. With Maven’s video platform, Yahoo would be able to expand its video monetization strategy as well as deliver more relevant advertising experiences to consumers.
Both companies’ advertisers would benefit from the merger as Yahoo’s expanded video solutions effectively complement its full search and display offering. This would mean increase inventory and more diverse choices for Yahoo and its network of contents. While Maven advertisers would have expanded publishing choices as they will be able to buy across Yahoo’s extensive premium library.
Hilary Schneider, EVP Global Partner Solutions at Yahoo said the deal is a big win for publishers, advertisers, consumers and for Yahoo.
“Video is projected to be the fastest growing segment of the online ad market, and Maven will significantly help advance Yahoo’s strategy, expanding the video opportunity for publishers and increasing the efficiency and effectiveness for advertisers,” says Schneider.