AOL Buys Online Video Platform 5min Media

AOL on Tuesday announced that it has acquired video syndication platform 5min Media.

AOL said the purchase will enable it to increase the delivery of targeted videos across its properties in an effort to attract more advertisers and monetize AOL-produced videos.

Terms of the deal were not disclosed.

"Our acquisition of 5min Media is the latest in a number of steps we have taken this year to better position AOL to capture the growing video opportunity on the Web," Tim Armstrong, chairman and chief executive of AOL, said in a statement. "AOL is building a video ecosystem for the next decade. 5min Media is the perfect complement to our powerful video capabilities - it provides a missing piece in the AOL value chain that completes our end-to-end video offering from content creation through syndication and distribution to the consumer experience and monetization."

Ran Harnevo, co-founder and CEO of 5min Media, said "AOL's organizational horsepower, combined with the vast library, audience and syndication capabilities 5min Media offers, present compelling opportunities for AOL as well as the content creators we work with and the publishers we serve."

The New York-based 5min was founded in 2006 and now has a library of more than 20,000 videos from more than 1,000 media companies. Its videos had more than 20 million unique views in August, according to comScore.

As part of a previous commerical deal with 5min, AOL has already started to integrate the company's videos throughout its sites. "With 5min Media we'll be able to add more video inventory to our pages. Importantly, we'll also be able to identify video content holes among our sites, tap our StudioNow capabilities to fill those needs and create a truly 'demand informed' video library," Armstrong said.

AOL acquired online video platform StudioNow in January.

News of the 5min deal comes amidst reports that AOL will also purchase technology blog TechCrunch. GigaOm reported that Armstrong might appear at TechCrunch's Disrupt conference in San Francisco Tuesday to announce the deal. PCMag is at the Disrupt conference, so stay tuned for any acquisition news.

About Our Expert

Chloe Albanesius

Executive Editor, News

My Experience

I started out covering tech policy in DC for The National Journal, where my beat included state-level tech news and all the congressional hearings and FCC meetings I could handle. I later covered Wall Street trading tech before switching gears to consumer tech. I now lead PCMag's news coverage.

My Areas of Expertise

Getting my start in DC means I still have a soft spot for tech policy; Congressional hearings can sometimes be as entertaining as a Bravo reality show, for better or worse. But PCMag is all about the technology we use every day, as well as keeping an eye out for the trends that will shape the industry in the years ahead (or flop on arrival). I've covered the rise of social media, the iOS vs. Android wars, the cord-cutting revolution that's now left us with hefty streaming bills, and the effort to stuff artificial intelligence into every product you could imagine. This job has taken me to CES in Vegas (one too many times), IFA in Berlin, and MWC in Barcelona. I also drove a Tesla 1,000 miles out west as part of our Best Mobile Networks project. Of late, my focus is on our hard-working team of reporters at PCMag, guiding and editing their robust coverage.

Read the latest from Chloe Albanesius

Read full bio