MySpace gets in YouTube's face
29-06-2007
by Emmet Ryan

MySpace is throwing down the gauntlet to YouTube by launching a beta version of a new video site this week.

The News Corporation-owned social networking site is set to lock horn's with one of the prized jewels in Google's crown by opening up access to videos of classic television shows along with user-generated content.

An upgrade to MySpace's current video site, MySpaceTV will feature premium content such as the Sony Minisodes, which debuted on MySpace last week and features five-minute versions of classic television shows, alongside user-generated content.

MySpace has already announced deals with content partners who will have channels on the site, including National Geographic, The New York Times and Reuters. MySpace will also be part of the NBC Universal/News Corp joint venture, which provides a legal online destination for those networks' TV shows and movies and is expected to launch in the coming months.

The good news is that MySpaceTV will be open to internet users who do not have an account on the social networking site, and MySpace users will be able to create their own TV pages by uploading videos to the site. MySpace's technology will power the site, while videos will be edited and mashed up using technology from Flektor, which News Corp bought just last month.

Despite the fresh challenge from MySpace YouTube is still the dominant force in the online video sector and its market share continues to grow. According to a Hitwise study released Wednesday YouTube's market share has grown 70 percent since January, compared to MySpace Video's 13 percent growth in the same time period. YouTube's current market share was an impressive 60 percent this month, compared to MySpace Videos' share of 16 percent.