Discovery Communications Acquires Revision3

Revision3, one of the most popular digital video providers in the world, has been acquired by Discovery Communications.  This is a huge move for Discovery and a big deal for web video creators everywhere — web video sells.  Will this be the first event in a long string of web video producer acquisitions?

The news was announced today, and AllThingsD is hearing rumors of a price tag around $30m.  The mission here is for Discovery to get a head start in web video, and expand “innovative marketing solutions for advertising partners,” according to JB Perrette, Chief Digital Officer at Discovery.

Revision3 has been growing slowly but surely since 2005, after Digg founder Kevin Rose and his buddies started making weekly web series talking about the news of the week.  The programs were popular with Diggers and Revision3 eventually expanded into all sorts of programming.  It was notable that their production values were a cut above what was available on the web but still presented in edible 10 minute sizes so people could more easily watch it online.  A personal favorite is Film State, a program that discusses the latest movie releases and rumors.

Revision3 has 23 million monthly active users on 27 digital channels, and they also have a platform which helps them easily scale and distribute across various web sites.  Revision3 content is available on YouTube, iTunes, Google, AOL, Yahoo!, TiVo, Roku, Boxee, CNET and Zune.

Read the press release here.