Best Buy teams with Mydeo on video service

NEW YORK (Reuters) – Electronics retailer Best Buy Co (BBY.N) launched an online service in partnership with video hosting site Mydeo on Tuesday, through which its customers can store and share home movies and videos via the Internet. Best Buy also said it will take a minority equity stake in UK-based Mydeo.
The move was spurred by a rising demand for video services that offer privacy and ad-free sharing, particularly among families with children, said Best Buy Vice President Kevin Winneroski.
“Through Best Buy Video Sharing, customers can safely store their videos and share them only with the friends and family they choose,” Winneroski said in a statement.
A base plan for the subscription-based service starts at $6.97 a month for 100 minutes of video hosting and video lengths of up to 30 minutes each, Best Buy said. Other plans for more storage capacity and longer videos are also available, according to Best Buy, which already has an online music store and photo center.

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