Joost, a soon-to-launch launch online video streaming service, and Warner Music (WMG) this week have formally announced their previously reported deal under which Joost will offer music videos from Warner Music.
The two said they’d share revenue from advertising on WMGs Joost channels.
Currently available in limited beta, the Joost service is said to “provide a completely new television experience online,” combining the long-form video channels of traditional television with the interactivity and on-demand components that the Net makes possible.
Joost can be accessed with a broadband Internet connection and offers broadcast-quality content to viewers for free.
The site will offer several WMG channels, each specific either to genre, record label or artist, plus content from outside of WMG’s roster. Michael Nash, senior VP for digital strategy and business development at WMG, said the creators of Joost have done “a brilliant job” of including all the key players involved in distributing video content on the Internet. He said the company will offer existing music videos and new video content created for the platform, such as behind-the-scenes shots.
Using Joost, he said, will benefit WMG artists by reaching new and broader audiences and protecting copyrights. The broader audience, he said, includes consumers who are spending more time online and less time watching traditional television.
WMG had made music videos available for Joost during Joost’s initial product testing. “Warner Music Group is a key partner for Joost, and has been from day one,” said Yvette Alberdingk Thijm, executive VP of content strategy and acquisition for Joost.
The pair said they’d share revenue from advertising in much the same way that television distributors share revenue with their content providers. However, unlike traditional TV advertising, the Joost platform creates significant opportunities for more targeted advertising by leveraging online capabilities, according to the two companies.
The Joost model, they said, is able to target a specific audience based on the viewer’s selected channel or program, location and individual preferences.