In an effort to compete with Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)’s popular video streaming website YouTube, Yahoo! Inc. (NASDAQ:YHOO) acquired video streaming startup RayV.
Yahoo’s latest acquisition to improve video comment selection
San Fransisco-based search giant Yahoo didn’t disclose the details of the deal but did reveal the RayV team has become industry pioneers. The website added this deal proves the company is serious about improving its media options. Yahoo has been improving its selection of live video and on-demand video streaming. This latest report also comes along with the announcement of a lineup of free streaming concerts from musical acts such as Dave Matthews Band, Usher, and Michael Franti. The Live Nation Channel will start posting live concerts daily starting on Tuesday July 15th.
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Kathy Savitt, chief marketing officer for Yahoo! Inc. (NASDAQ:YHOO), stated live experiences are the only experiences we share at the same time thanks to today’s on-demand entertainment environment. Yahoo also plans on sharing even more performances by stars including John Legend, Everclear, OneRepublic, Justin Timberlake, Airborne Toxic Event, among others. The Yahoo Screen concerts will be accessible through a variety of streaming devices including Xbox 360, Roku, AppleTV, mobile phones, tablet computers, and desktops.
The shift to video content
Yahoo’s main focus remained on search for a long time, but now the company is shifting its focus on becoming a digital content hub with a big focus on mobile-friendly media. Yahoo also put more focus on original programming. Like its rival YouTube, Yahoo Screen derives a sizeable amount of content from third-party sources including Vevo, Buzzfeed, official movie trailers, SNL, Comedy Central, Vogue, New York Times, ABC News, CNET, and more.
Video content has seen a significant growth in the past few years and it is something in the advertising market learned to embrace. Yahoo Screen is a solid media source but an acquisition might help advance it even further.