Verizon Digital Media Services is aiming to bolster its Over-the-Top (OTT) video services with the acquisition of video company Volicon.
Verizon said Volicon, which specializes in video capture, archival, compliance monitoring and clip creation workflow for broadcasters, will become a “key asset” in helping the carrier establish itself in the online video industry.
“With the shift to all things digital, mobile and video, we are committed to enabling all creators, publishers and broadcasters to bring their content to the internet with the highest quality and a trusted partner globally,” Verizon Digital Media Services President Bob Toohey said in a statement. “Volicon’s role as a trusted provider to more than 1,200 broadcast and video operators around the world, combined with deep expertise in video monitoring and analysis, will improve visibility, transparency, and quality of our clients content and ads over our global delivery footprint.”
Verizon said both companies already have complementary video workflow tools to allow content creators and broadcasters to generate assets, clips, highlights and social sharing opportunities from existing live, linear and VOD workflows. The integration of Volicon’s technology, Verizon said, will give customers the option to take existing broadcast feeds and channels to OTT cloud-based delivery models.
The terms of the deal were not disclosed.
The move comes as Verizon seeks to strengthen its go90 mobile video platform.
The carrier has said previously it is counting on go90, which is aimed at millennials and features shorter snippets of video than competitors like Netflix or Hulu, as a driver of future growth.
However, financial services company UBS has said the service is off to a “slow start” and Verizon CFO Fran Shammo has said go90 will likely not cross the line into profitability for another year or two.
In recent months, Verizon has sought to pad its go90 content portfolio through deals with the NBA for live game streaming and Sony for music-related series and live events. Additionally, the carrier recently inked an agreement with media company Hearst for a new set of mobile TV channels that will target millennials.
