The deal follows the announcement by Captivate, another major place-based video, that it will also be launching online content in the near future.

The WaMu portal, which is only available to members of the bank's customer value program, will feature exclusive music artist interviews, concert footage and ticket sales. Unlike most place-based networks, which license content from other media companies, Channel M creates its own entertainment content with an in-house production staff of 30. It also has a library of about 100,000 pieces of licensed video content.

Currently, Channel M's network covers over 20,000 locations, including Macy's and Blockbuster stores. Channel M offers marketers access to television advertising, in-store signage and product integration services in about 7,500 of those locations.

A few weeks ago, Captivate Network--which delivers news and information to thousands of digital screens in office building elevators--said it is expanding its ability with an online news site, according to founder and President Mike DiFranza. He said Captivate.com is going to be a consumer Web site where viewers can learn more about the 15-second stories appearing on elevator screens. "It will also be a platform for our advertisers to reach them on another screen," he added.