Viacom-owned music broadcaster MTV Networks is launching a new broadband channel, MTV Overdrive, giving internet users access to songs, news and streamed video content—and giving advertisers new access to the key youth market.
MTV is growing its online offering at a time when online advertising is taking off, and the Overdrive channel will carry 15-second ads cut into its programming.
Overdrive, which will offer broadband users access to full length music videos on demand, is currently being tested ahead of full launch on April 25.
"With an incredibly high percentage of young people using broadband, it seemed essential to create a new hybrid screen with its own content," Jason Hirschhorn, senior VP of digital music at MTV Networks, told Reuters.
Advertisers already signed include Microsoft, Procter & Gamble and Sony.
MTV Networks president Van Toffler said MTV did not expect to lose TV viewers to the new internet channel.
"The TV experience is still great. Our ratings are moving higher and we don't fear that (losing viewers). (Also) we are capturing money that is going to new media," he added.
Lovelacemedia | 08.04.2005