Friday, June 29, 2007

MySpace vs Youtube

MySpace will rename and relaunch its video sharing service as MySpaceTV on Thursday, according to the NY Times.
MySpace TV will operate as a standalone service and is being billed as a direct competitor to YouTube. We’ve speculated on News Corps plans for a YouTube competitor previously; rumors first surfaced in December 06 and more recently NBC and News Corp were to launch a site in March. Nothing much has happened since aside from an upgrade to MySpace Video that included branded channels in May. Thursday’s launch of MySpaceTV may well be the long awaited NBC/ News Corp YouTube killer. It’s probably a case of MySpace TV being better late than never in launching, even if YouTube has doubled its traffic since October and is now even harder to challenge.
Online social networking powerhouse MySpace has set out to knock YouTube from its throne by launching a website devoted to Internet video and television shows.

MySpaceTV is a platform for homemade video and professional productions, such as news programs and "webisodes" made for the Internet of US shows like Prom Queen.

"This works just as well for NBC and Fox and for the aspiring Steven Spielberg as it does for the kid doing skateboard tricks on the weekend," MySpace vice-president Jeff Berman told AFP.

"We've seen video explode as a way for users to connect."

The test program unveiled is customised in seven languages for the US Internet firm's users worldwide.

The site's creators hope to replicate the success of MySpace, which gets more visitors than any other website in the United States and is the most popular online social community in the world, according to industry statistics.

The teen-oriented website is a forum in which people share pictures, journal entries, videos, music and more on personalised profile pages.

MySpaceTV is taking on YouTube, the undisputed king of online video sharing.

Its share of the US market surged 70 per cent in the first five months of 2007, reports tracking firm Hitwise.

Since February, MySpace has gained on Google-owned YouTube when it comes to the numbers of videos streamed to people's computers