Michael Eisner's Vuguru to Produce Web Video Series for AOL
Online company's CEO Tim Armstrong looking to close the gap between user-generated content on Internet and "the high production values of TV and film"
NEW YORK - Vuguru, the online studio of former Walt Disney CEO Michael Eisner, will produce at least six scripted original Web video series for AOL as the partners look to set a new bar for online original content.
Financial terms and details about the series, which will include comedies and dramas, weren't immediately available. The companies said each series will amount to a story of about 90 minutes with natural breaks and cliffhangers.
The deal is part of AOL's focus on expanding its original video offering.
"Until now, there’s been a gap in the online video consumer experience between user-generated video and the high production values of TV and film," said AOL chairman and CEO Tim Armstrong. "In joining forces with Vuguru and other premier studios and production companies, AOL is uniquely able to bridge that gap by bringing top quality, original video to the millions of users who come to our site each day. The magical combination of AOL's impressive reach with one of the most visionary content creators will help us become a market leader in this largely untapped space."
Said Eisner: "The Internet's next growth phase will be powered by professional, high-quality, story-driven content and the key to success is delivering that content to as many users as possible."
The New York Times first reported the new partnership. Asked by the Times about a possible acquisition of Yahoo, Armstrong wouldn't comment beyond joking: “Who are they?”