• by Gavin O'Malley  @mp_gavin, August 10, 2011

Meredith Video Studio has quietly entered into a far-reaching agreement with digital video technology provider OneScreen.

A division of Meredith Corporation, MVS will relying on OneScreen for a range of video products and services, while enabling video syndication across Meredith's brand portfolio, including Parents, Family Circle, More, Ladies Home Journal and Fitness.

"OneScreen brings us Web solutions we need to be successful, including video player technology, content management, video syndication and ad monetization," explained Kieran Clarke, executive vice president at Meredith Video Studios.

OneScreen provides added distribution and an expanded video portfolio, along with a variety of choices from other content producers. Meredith will use the platform to work with a network of content owners, publishers and advertisers.

OneScreen CEO Atul Patel said he's ready to help Meredith drive video-related revenue and build new audiences by expanding their brands and content online.

The video tech company is known for conceptualizing the theory of "media graph," which maps out which audiences watch what, when they want it, and where -- as well as the best ads to serve at specific times, based on previous consumer behavior.

OneScreen is also credited with adding advertising metrics to a list of behavioral targeting data.

At stake is a growing trove of online video advertising. In June alone, about 5.3 billion video ads were viewed online, which represented a 15% increase month-over-month, according to comScore Video Metrix. Video online commercials reached 49.2% of the U.S. population in June -- up from 45.4% month-over-month.

The bigger picture: the gap between time spent online and advertising dollars spent online equates to a $35 billion annual advertising opportunity, according to investment bank Jordan, Edmiston Group. Per JEGI, the gap points to a continuing movement of ad dollars to the Internet in the coming years.

As a result, major media companies like Meredith -- along with Hearst and Gannett -- have been investing in online services to better assist their customers and capture more revenue.