MySpace takes on YouTube with TV site

by Andrew McCormick, Media Week 27-Jun-07, 17:35

LONDON - MySpace is set to launch MySpace TV, the social network's long-awaited rival service to video sharing site YouTube.

A standalone website, MySpacetv.com, will go live tomorrow and will act as a platform for MySpace to launch branded channels, Media Week understands.

MySpace has planned a dedicated TV service for some time and has signed up content partners ahead of the launch. National Geographic, The New York Times and Reuters are among the content providers involved in the project. MySpace will also draw on content from within its parent company, the Fox network.

Media Week understands that Google has been working to provide a video search tool to make footage easy to find. MySpace will be able to charge users for paid video search listings through the development. MySpace will also gain revenue from ad revenue splits with content partners and through potentially charging users for premium content.

The home page will host a "hot video of the day" and users will be given the tools to create their own MyVideos area, enabling them to host their favourite videos on their profile pages. Features similar to YouTube include a series of video charts and various methods of rating videos.