Internet media company Yahoo Inc and Current TV, a television channel founded by former U.S. Vice President Al Gore, on Wednesday said they had teamed up on a Web video service aimed at young adults.
The service, named the Yahoo Current Network, will feature both professionally produced video and material from viewers. No financial terms were disclosed.
The companies said the service’s revenue would be derived from advertising. The move comes amid the exploding popularity of video sharing services, such as YouTube.com, and builds on Yahoo’s strategy of creating Internet communities around specific areas of interest.
The Yahoo Current Network will launch four Internet channels tracking buzz-generating trends, sports news, hot cars and exotic vacations. It plans to offer a total of eight channels by the end of 2007.