NASHVILLE, TN -- (Marketwire) -- 09/04/08 -- StudioNow (www.studionow.com), the premier online source for creating and managing professional-quality videos at affordable prices, today announced an agreement with Citysearch, the leading online local guide, to shoot, edit and create local merchant videos for Citysearch.com.
Under the terms of the agreement, Citysearch will make online video production and editing services from StudioNow available in multiple configurations to its local merchant customers. StudioNow will leverage its global network of thousands of video professionals and its proprietary online content management platform to provide country wide on-location shooting, editing of merchant content and other offerings to accelerate the creation of local merchant videos. Citysearch will distribute the affordably priced ads and promotional videos across its local directory, enabling local merchants to provide their customers with a richer user experience.
According to The Kelsey Group's recent U.S. Local Video Forecast for 2007-2012, local online video ad revenues will see considerable growth over the next several years, increasing from $10.9 million in 2007 to $1.5 billion by the end of 2012, accounting for a compound annual growth rate (CAGR) of 167.8 percent. The report forecasts that video ad products will represent 11.6 percent of the online advertising budgets of small and medium-sized businesses by 2012.
"Our goal is to provide multimedia opportunities for all our merchants so they can more effectively connect with customers online," said Brian McCarthy, Citysearch Vice President Merchant Product. "The partnership with StudioNow is going to make it even easier and more affordable to add video to a local merchant's Citysearch listing."
"Our network of video professionals is enabling small and medium-sized companies to harness the power of online video," said David Mason, CEO of StudioNow. "These businesses are benefiting substantially from our expertise in efficient and affordable video production services ranging from nationwide on-location shooting to post production services like editing, animation and voiceover."
StudioNow has created a new era of video production by directly connecting businesses and individuals with the first-ever, Web-based StudioNow Network of expert videographers, editors, directors, producers, animators and voiceover artists. StudioNow quickly and efficiently creates top-quality digital content at a fraction of the cost normally charged by traditional production/post-production houses.
StudioNow is a professional video creation platform that aggregates thousands of freelance editors, videographers and creative individuals who are available 24/7 to create professional, on-demand video content at affordable prices. Through a proprietary high-volume, Web-based marketplace and production management platform, StudioNow is capable of creating and distributing high-quality, original videos, to provide enhanced communications for professional groups, businesses, organizations and associations of all sizes. For more information, visit: www.studionow.com.
Citysearch is the essential urban companion for living bigger, better and smarter in your city. Combining in-the-know editorial recommendations, candid user comments, and expert advice from local businesses, we keep users connected to the most popular and undiscovered places wherever you are. Citysearch is an operating business of IAC (NASDAQ: IACI). For more information, visit www.citysearch.com.
Alan Penchansky / Michael Tangeman
The Pen Group Communications
Tel: (305) 529-1944