YouTube has a new competitor. AOL’s video streams increased from 192 million in July to 493 million in October following the company’s acquisition of 5min Media, the co-founder of which (Ran Harnevo) will oversee AOL Video. 

"AOL’s acquisition in September of 5min Media brought distribution and market reach to more than 800 premium digital publishers with a combined 300 million monthly UVs, and 350 million monthly video streams (including ad and content videos)," AOL says. "Additionally, AOL has video content from more than 1,000 of the world’s largest media companies and professional independent video producers; more than 3,000 freelance filmmakers, editors, animators, voice talent and writers/producers to create quality, professional video; and more than 200,000 categorized, tagged and rated videos across 21 verticals including home, food, beauty/fashion, health and travel."

"In just a few short months, you can see by the data that our commitment to video is really paying off for users and advertisers," said David Eun, President of AOL Media & Studios. "We have no doubt that video is the future of content on the Web, and AOL’s goal is to be the market leader at every point on the value chain. Our distribution capability is the keystone that links the high-quality video content we create at AOL to the premium publishers that carry it, the engaged users who consume it, and the premium brands that partner with us to create it."

The company has its own HD studios in L.A. and New York for producing its own original content. This year the company has closed deals with over 20 premium content partners and digital studios.

"Other video franchises across AOL’s owned and operated properties include, AOL Sessions; The Engadget Show; Translogic on AOL Autos; a number of shows on Cambio.com – Cambio Connect, Cambio Style, Cambio Goes Home, Cambio Cares; and The Secret Millionaire’s Club on AOL Kids," the company notes. AOL recently acquired TechCrunch as well, which has TechCrunch TV. 

From here on out, we can likely expect AOL to announce a lot more video content partnerships, it’s good timing with more connected TV devices hitting the market.

Beginning this week, a variety of short form videos will be accessible via AOL Video from those networks, along with CMT, Spike TV, MTV2 and Web sites AtomFilms and GameTrailers. MTVN will not distribute full-length episodes on AOL.

"By delivering a vast library of clips from our hit shows through AOL Video, we’re increasing engagement with our brands across the digital space, creating additional online ad inventory, and closing the loop by driving audiences back to our popular linear channels," said Mika Salmi, president, global digital media, MTVN.

The new partnership is an effort by MTVN to reach out and broaden its video content on the Internet. Besides striking deals with AOL and video startup Joost the company has also recently launched Web sites of its own that have a more narrow focus, including TheDailyShow.com, which boast clips dating back to 1999.

"AOL Video is a central hub for video content from the world’s leading entertainment brands as well as from anywhere across the Web," said AOL executive vp Kevin Conroy.

The programming will be delivered on a co-branded version of ABC.com’s broadband player, full episodes of programs are available today at AOL Video and starting next week will carry ABC’s new fall lineup of programming.

The two companies will also partner to offer select short form programming from ABC through an embedded short-form player, which will be available on AOL later this year. The programming on the embedded player will include both original and derivative content from ABC.

"We’re excited to partner with AOL on this groundbreaking agreement which not only expands the reach of our quality programming, but ensures the finest online viewing experience available through our own broadband player," said Anne Sweeney, co-chair, Disney Media Networks and president, Disney-ABC Television Group.

"As we experiment with new ways to grow our digital business, we remain focused on finding smart, new methods to connect viewers to the content they want and brands they love on the platforms they choose. This deal not only provides additional viewing opportunities for our consumers, but also gives our affiliates and advertisers another way to reach our audience and associate with our powerful network brands."

As part of the deal ABC will feature three interactive ads from one national sponsor, along with an additional local ad. ABC will continue to sell national advertising for the broadband player and local affiliates will still be responsible for local ad sales.

New episodes of ABC series offered free to consumers on AOL the day after their broadcast premieres include: "The Bachelor" (premieres online Tuesday, September 25); "Big Shots" (premieres online Friday, September 28); "Brothers & Sisters" (premieres online Monday, October 1); "Carpoolers" (premieres online Wednesday, October 3); "Cavemen" (premieres online Wednesday, October 3); "Dancing with the Stars" (premieres online Tuesday, September 25) among others.

Yesterday NBC announced a similar deal where it will offer free downloads of its programming on NBC Direct for viewers to watch on their PCs for up to one week after broadcast.

Just as AOL News embraced whitespace in its recent refurbishment, AOL Video received similar treatment. Video result presentations come back in a grid of 15 blocks, which list the video’s title, source, category, and video length.

User-submitted video that arrives through AOL’s UnCut Video has a place on the updated video site. A small display of thumbnails to recently uploaded videos appears above the ubiquitous branded advertising display on the top right of the main page.

AOL also announced today the availability of a new Windows Vista-ready sidebar gadget which enables consumers to watch popular AOL Video content while using other applications. The skinnable AOL Video Gadget features five channels showcasing 10 of the most recent or most popular videos in each channel.

The gadget can be downloaded from the AOL Developer Network.

Traffic numbers to AOL Video increased greatly from August 2006 to April 2007. A comScore Media Metrix report said unique visitors grew to 8 million per month, while page views rose to 76 million for the period.

“We’re very excited to add digital movie downloads and additional TV content to the already wide-variety of content that we offer through the AOL Video portal,” stated Kevin Conroy, Executive Vice President of AOL, in a press release. “As we continue to build AOL Video into the best source to find millions of free as well as pay-to-download videos, we’ll continue to add more and more high quality branded content to the mix . . . .”

Overly enthusiastic rhetoric is a common feature of company statements, but it looks like the deal will bring some genuinely interesting content to AOL Video. FX, Speed, and FunnyBone are among the new on-demand channels. And between Fox and Fox Classic Television, viewers will be able to watch fan favorites “24″ and “Buffy the Vampire Slayer.”

Peter Levinsohn, the president of Fox Digital Media, was quoted in the press release. “We are eager to continue to develop the market for digital downloads by applying our premium content to one of the Web’s strongest brands,” he said. “AOL’s wide usage will increase our ability to get Fox’s electronically-delivered movie and TV product in front of a huge number of consumers.”

The press release described AOL Video as “a one-stop, high-quality entertainment destination to find, watch and share millions of free streaming and pay-to-download video content from across the Web, broadcast and cable television, and movies.” An overly enthusiastic statement? Maybe. But it’s a pretty accurate one.

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Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.