In what, admittedly, sounds like a somewhat overdue development, AOL announced the creation of a new division called AOL Video yesterday, dedicated to “the creation, production and syndication of high-quality online video content for its millions of users.” The announcement was accompanied by figures that demonstrated the growth of AOL’s video audience between July and October – an increase of 157% from 192 million streams to 493 million – and a statement from AOL Studios president David Eun that “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.”
In response, Google reminded the world that YouTube has been around since 2005, and then got back to trying to work out how to make Google TV work while buying the back catalog of a movie studio.
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