Yahoo is continuing its shopping spree in online video with the purchase of streaming video startup RayV last Friday. The company launched in 2005 and currently specializes in creating technology to stream HD-quality video, particularly on mobile devices. That’s technology that Yahoo is going to need if they plan to compete with online video leaders like YouTube, Netflix and Hulu.
This is only the latest video-related move by Yahoo in recent months. The struggling web giant announced plans for original video content at New Fronts, taking aim at Netflix and Hulu, and has also reportedly wooed some of YouTube’s top talent with exclusive content deals. More recently, Yahoo rescued critically popular NBC sitcom “Community” from cancellation and hired big name media personalities like news anchor Katie Couric and columnist David Pogue to join its news division.
Mobile is the fastest growing component of the online video sector, and Yahoo’s latest strategic purchase only confirms the company’s desire to build itself into a major player in that arena. The deal was announced in a blog post by P.P.S. Narayan, VP of Cloud Platforms and Services, who writes, “This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space.”
The only remaining question seems to be when we will finally see the rumored YouTube killer that Yahoo has been developing under its Yahoo Screen banner. Despite months of rumors there’s been no official announcement of the product. Speculation has been fueled primarily by hires and acquisitions in the area of streaming video technology.
Is Yahoo’s big video move a long way off or will we all be saying “check out this epic Yahoo clip!” a year from now?