Today kicks off New York Advertising Week, which is one of the most important and exciting weeks of the year here at AOL, and which is why I'm particularly excited to share some very significant news. As many of you know, video has been a key part of our overall strategy over the last few years, and since launching The AOL On Network in April of this year, we've seen tremendous traction in the marketplace. In August, our reach surpassed 60M unique visitors for the first time ever, and we were ranked #1 in the Auto, Business, Style, Home, Health, Travel, Technology and Food categories.

Today, we're sharing the news our entire original video content library will be distributed across 22 curated channels and monetized on YouTube. Viewers will be able to enjoy nearly 20,000 videos from their favorite AOL brands like The Huffington Post, TechCrunch and Moviefone; original series Beyond the Battlefield and Little Women, Big Cars; and vertical content on topics Style and Home. Ad sales will be handled by AOL's sales team, opening up a new revenue stream for the company and delivering a significant amount of brand-safe inventory for advertisers.

According to comScore's Video Metrix for August 2012, AOL and YouTube's parent company, Google, are the two largest video content properties by number of video streams per month, which means this deal brings together the two largest video properties on the web.

YouTube unveiled its new channel strategy in October of last year in an effort to bring more premium content into the mix, which means we'll be joining some of the biggest names in media including Hearst, Lionsgate, Reuters, Slate and Pitchfork. The project has been an immense success so far, with twenty of their premium channels garnering a million views per week.

We couldn't be more excited to bring our video library to a whole new audience of viewers and to contribute to a major milestone in the online video industry.