Fox News announced today a partnership with Maven Networks to provide an IPTV platform for the global news network's online video aspirations. Although Fox News had previously taken a lackluster approach to incorporating online video, a sense of urgency has apparently set in for executives as the launch of the Fox Business Channel grows near.
"Online video opens up an untapped and arguably limitless landscape of inventory for media companies looking to grow their advertising revenue — creating an extremely valuable opportunity for businesses today," said Jeff Misenti, General Manager and VP of Fox News Digital, in the announcement. "It is critical for us to be on the cutting-edge of innovation in Internet video syndication, monetization and user experiences," he added.
In addition to all-around online relevance, monetization is also slated to be a large part of this partnership. Maven's platform will not only facilitate the storage of the Fox News video library, but also make it available for syndication to local affiliates, including a host of scalable tools to incorporate features like customizable channel logos and local ads.
Now that Fox News has the tools to expand and monetize its online video content, the only thing left to chance is whether or not there's room for a new entrant in the cable and online business news space. No one can say for sure until October 15th, when both the Fox Business Channel and the Maven-backed video archive go online.
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