Yahoo! Inc. today announced that it has acquired Maven Networks, Inc., a leading online video platform provider, to expand state-of-the-art consumer video and advertising experiences on Yahoo!.com and Yahoo!'s network of leading premium video publishers across the web. Under the terms of the agreement, Yahoo! acquired Maven Networks for approximately $160 million.
Yahoo! and Maven will be able to offer publishers a full portfolio of technology and media solutions. Yahoo! already has the largest library of professionally produced legally licensed video content and has video advertising relationships with over 75% of the top TV advertisers. Additionally, Yahoo! has advertising relationships with a growing number of premium publishers including eBay, Comcast, Newspaper Consortium, Forbes.com and others. Maven's platform is currently used to manage, distribute and monetize premium online video content for over 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks, and the Financial Times as well as hundreds of their affiliates. Together they represent one of the most robust video platforms in the industry.
Yahoo! intends to invest in the growth of Maven's overall video business, continuing to provide premium publishers with both publishing and new advertising solutions. Yahoo! intends to expand on the Maven offering with video monetization services allowing publishers to take advantage of Yahoo!'s industry leading display sales force and advanced technologies for delivering consumers more relevant advertising experiences, both of which help them maximize their video advertising dollars.
For advertisers, Yahoo!'s expanded video solutions complement the company's full search and display offering and mean more inventory and more diverse choices, both on Yahoo! and across its growing network, increasing audience reach and creating a more appealing advertising experience for consumers. With Maven, advertisers will be able to buy across Yahoo!'s extensive premium library as well as other publishers simply and efficiently.
"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. This is a big win for publishers, advertisers, consumers and for Yahoo!," said Hilary Schneider, EVP, Global Partner Solutions at Yahoo!
The easy-to-use Maven video publishing platform enables publishers to deliver state-of-the-art consumer video experiences through simple media management, workflow and flexible media players. Maven also enables publishers to increase video ad inventory and revenue through a dynamic advertising insertion engine, sophisticated inventory management, reporting tools and advanced ad formats.
Says Hilmi Ozguc, CEO of Maven Networks, "Over the past year, Maven has emerged as the market leading video and advertising technology platform, serving some of the largest global media companies. By combining our capabilities with Yahoo!'s own technology resources, publisher and advertiser relationships, and vast audience reach, we will deliver an unmatched video content syndication and advertising solution to the market."
Forrester estimates that U.S. online video advertising will grow to more than $4 billion in 2011. This rapid growth in the online video market from both users and advertisers is escalating the demand for targeted premium content.
With this acquisition, Yahoo! has established a Cambridge, MA presence and Maven has become a wholly-owned subsidiary of Yahoo!.
About Maven Networks, Inc.
Maven Networks is an online video platform provider with a state-of-the-art end-to-end video syndication, content management and advertising solution. As a critical technology partner, Maven enables professional media companies to quickly and easily create, distribute and profit from direct-to-consumer Internet TV channels and networks. The Maven Internet TV Platform(TM) is used by industry-leading organizations around the globe such as CanWest, CBS Sports, CBC, CNET, Gannett, The Financial Times, Fox Business Network, Fox News, Hearst, MediaNews Group, Ogilvy, Scripps Networks, Sony BMG, Sony Pictures Television, and TV Guide. Maven is headquartered in Cambridge, Massachusetts.
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