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Overlay.tv is an upcoming video network that lets you add hyperlinks and image overlays to video content in order to monetize the clips. The Overlay technology and network won't be launched until Valentine's Day, but the service is getting some early press thanks to its funding news. $4.6 million in Series A financing has been provided by Celtic House Venture Partners, EdgeStone Capital Partners and Tech Capital Partners.
Now, you're seeing the word "overlay" being used in the same sentence with "video" and "ad." At first blush this may sound like another questionably effective tool for the purpose of getting viewers to see your ads, or for video distributors to earn some extra cash from their content. But take a closer look at what Overlay does, and you'll see that there are a couple of things going on.
On one hand, there is the ability to add hyperlinks to your video content, which could be used for a variety of purposes. If you're showing a how-to video on sewing a dress, you may want to add a hyperlink to a wikipedia definition of a particular type of material, or link to your online store that sells the material. Similar to Asterpix, the hyperlinks provide an interactive manner in which to increase the contextual value of your video content. The link will follow the assigned object as the video plays.
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On the other hand, there is the ability to add image overlays. This is more of a video-editing tool for creating a mashup of sorts, which can also be used for a variety of purposes, from fun with friends to branding your products. These images can be hyperlinked, and as an advertiser you can present the viewer with the option to buy the product directly from the video.