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Tag: MySpace

  • 71 per cent of tweens will be online by 2010: eMarketer study

    71 per cent of tweens will be online by 2010: eMarketer study

    MUMBAI: The latest eMarketer’s report suggests that among tweens and young teens some 20 million of them use the Internet and by 2010, 71 per cent of kids ages 8-11 will be online.

    Tweens online may well be marketers’ next big coveted demographic. Children between the ages of 8 and 14 — are not only strong in number but interestingly, in purchasing power, informs an official release.

    It is estimated that over half of boys and girls own and use a computer, VCR, DVD player and mobile phone. In one survey quoted by eMarketer, tweens report that they love watching TV. But another study points out that children 8 to 18 spend fully one-quarter of their media time multi-tasking among media.

    “Tweens and young teens may be the first generation that will come into adulthood fully expecting to obtain their media on a variety of platforms,” says eMarketer’s senior analyst and author of the report Debra Aho Williamson.

    The younger group plays more games, everyone prefers instant messaging to e-mail, and as tweens pass into their teenage years they devote more time to downloading music. More than one-third of teens ages 12 to 14 frequent MySpace, according to one study. And, the hot growth opportunity for wireless carriers is the tween market. Harris Interactive data from 2006 shows that 23 per cent of children ages 8 to 12 own a mobile phone, up from 12 per cent the previous year.

  • Al Gore’s Current TV signs deal with BSkyB

    Al Gore’s Current TV signs deal with BSkyB

    MUMBAI: Former US Vice President Al Gore has unveiled plans to launch a UK version of his ‘user generated’ network, Current TV.

    Current has signed an agreement with UK pay TV platform BSkyB to launch a localised version of its viewer-created TV channel in the UK and Ireland.

    The announcement was jointly made by Current chairman Al Gore and BSkyB CEO James Murdoch. The agreement provides Current’s first presence outside the US and marks a step in fulfilling its plans of becoming an international media company, while for BSkyB it represents a first step in a strategy to develop a broader presence in the fast-growing field of user-generated content.

    Current TV is the first TV network created by, for, and with a young adult audience, enlisting its audience as creative partners. To tailor its output to the local audience, Current plans to deliver a channel specifically designed for the British and Irish markets.

    Viewer producers from the UK and Ireland will be able to submit their video segments via Current’s website and, if their work is selected for broadcast, they will also have a chance to have their pieces air on Current’s U.S. network and in other markets into which Current will expand in the future.

    Since its launch in August 2005, Current TV claims to have been a pioneer in the world of user-generated content, with its ‘viewer created content’ or VC2, programming model. Rather than a traditional network with primetime shows and “appointment television,” Current offers short-form, nonfiction programming, called “pods,” which are only a few minutes long and which explore the issues of interest to young adults, including technology, fashion, music and videogames, the environment, relationships, spirituality, politics, finance, and parenting. In the US, approximately 30 per cent of the network’s content is created by viewers.

    The agreement will allow Current TV to reach up to 22 million more viewers in 8.2 million households subscribing to BSkyB’s Sky digital service, equivalent to almost one in three households in the UK and Ireland. Over the past year Current has expanded its US carriage by 70 per cent from 17 million to nearly 30 million homes.

    Gore says, “We are grateful to be working with BSkyB in our first international venture. This is a big step in fulfilling Current’s mission of sparking a global conversation among young adults. Bringing our viewer-created content model to the UK and Ireland will give millions of young viewers the opportunity to not only watch but also to create television programming that is relevant to them. We’re excited about being able to unleash the creativity of young people in the UK and Ireland, enabling them to share their stories with their generational cohort here and around the world.”

    Murdoch says, “Current TV is bringing the web’s sense of empowerment to television for the first time. It has a uniquely collaborative approach to working with viewer producers that stands out among other platforms for user-generated video. As a first step towards Sky’s own moves in this fascinating field, we’re pleased to help give a voice to millions of young people throughout the UK and Ireland.”

    Murdoch incidentally was one of the first to back Mr Gore’s campaign to persuade big business to face up to green issues. He said the partnership with Current TV was the first step towards the broadcaster, which will make it available free to all its 8.2 million subscribers, launching other user-content initiatives.

    Internet networking sites such as MySpace and video sharing services such as YouTube and Google Video have forced broadcasters to learn from them. Political parties have also tried to get in on the act, as with the WebCameron Tory initiative.

  • Myspace founder Greenspan alleges defrauding of shareholders in sale to News Corp

    Myspace founder Greenspan alleges defrauding of shareholders in sale to News Corp

    MUMBAI: Brad Greenspan, who is one of the founders of the social networking site Myspace.com, has issued an online report at Freemyspace.com that details how Intermix Media’s sale of Myspace intentionally defrauded shareholders out of tens of millions of dollars.

    Saying that it is “one of the largest merger and acquisition scandals in US history,” Greenspan is calling for further investigation by the Securities and Exchange Commission, the United States Department of Justice and the United States Senate Committee on Finance. Greenspan served as chairman and CEO when Myspace was created by Intermix.

    News Corp had bought MySpace for $580 million last year. Analysts feel that the site could be worth several billion dollars in the next few years. Greenpan, who is Intermix’s largest individual shareholder says, “The answer to how News Corp. was fortunate enough to buy one of the largest and most valuable Internet companies for pennies on the dollar is now clear.

    “I expect as the authorities get their arms around what happened, that this transaction will be unwound and Myspace will be independent. An independent Myspace is significantly better for its users and shareholders.

    “For the first time the public can read what took place behind the scenes and how shareholders were blatantly misled into voting for a quick and unfair sale to News Corp. Deliberate steps were taken to withhold and manipulate information; money was improperly gained and laws were broken. It is my hope that regulatory bodies will begin their investigations quickly before evidence is destroyed.”

     
    Greenspan utilised a variety of sources for The Myspace Report, including the two highest non-director senior executives at Intermix, chief financial officer Lisa Terrill and chief operating officer Sherm Atkinson, financial analysts, and Kroll a golden risk consulting company.

    The report shows that Intermix CEO Richard Rosenblatt knew before the transaction that Myspace was well on its way to becoming worth at least $20 billion.

    “In addition to Rosenblatt’s stunning and incriminating emails, the two highest non-director senior executives, chief financial officer Lisa Terrill and chief operating officer Sherm Atkinson, have come forward through their legal counsel indicating significant breaches of fiduciary duty by Rosenblatt and the directors as part of the News Corp. transaction,” continued Greenspan.

    The report concludes that certain Intermix board members and senior executives, led by Rosenblatt, blatantly deceived shareholders into voting for a quick sale to News Corp in exchange for broad protection from a string of prior corporate misdeeds and Rosenblatt’s understanding that he would share in $20 billion in value post-transaction via his new role at News Corp.

    Rosenblatt’s scheme was helped in large part because Intermix hid Myspace revenue from shareholders in a blatent violation of FAS 131 (segment reporting disclosure). Greenspan says shareholders were not aware that Myspace’s revenue was growing at a 1,200 per cent annualised rate and increasing. Shareholder’s were forced to trust the recommendation of Intermix’s Board and were under the impression Myspace was unable to turn its massive traffic into revenues.

    “A public company that refuses to tell shareholders the revenue of its most valuable asset flies in the face of what it means to be a public company” said Greenspan

    Six months after the deal closed, News Corp. disclosed to analysts that Myspace was tracking at $250 million in revenue in 2006 and announced an advertising deal for MySpace with Google for $900 million dollars. Peter Chernin of News Corp. was quoted by the Financial Times on 7 August, 2006: “In one fell swoop we have paid off two-thirds of our Internet investments. We have gotten a 70 per cent premium on our Myspace investment and are now playing with house money.”

    Says Greenspan, “If Intermix had abided by FAS 131, shareholders would have been able to track the revenue and growth of Myspace and known the property was on pace to hit the eye popping numbers we are now seeing. Myspace didn’t magically start generating revenue after the News Corp. transaction, its revenue and growth were tracking to reach $250 million before the acquisition.”

    In May 2005 Deutsche Bank outlined for Intermix executives that taking Myspace public could provide value in the $1.028 – $1.7 billion range. Greenspan alleges that Rosenblatt knew that Myspace was on track to become a $20 billion property and purposely withheld this information from shareholders to accelerate the transaction as well as 60 per cent of his stock options at closing for a personal gain of $20 million. 

    “News Corp’s valuation has increased by $12 billion since the transaction occurred just one year ago, and there are several independent analysts today that agree that Myspace is worth tens of billions of dollars. It is time everyone knew the truth about the ‘hijacking’ of Myspace and the individuals responsible for this eye popping theft,” concludes Greenspan.

  • YouTube in deal with Warner Music

    YouTube in deal with Warner Music

    MUMBAI: In a boost for video sharing site youtube music videos from artists like Madonna, Red Hot Chili Peppers and Sean Paul will be legally available on the site.

    It has signed a deal with Warner Music Group.

    Media reports state that Youtube wil share ad revenue with Warner. A report in The Wall Street Journal further states that YouTube is developing software that automatically identifies copyrighted music and video content uploaded to the site, reported in its online edition. A portion of the revenue from ads placed near the copyrighted material will go to the owner of the copyright. 100 million videos are viewed daily on youtube.

    YouTube co-founder and CEO Chad Hurley.has ben quoted saying that in the future it would explore options for sharing online ad revenue with smaller and amateur creators of videos. “But right now we are building tools for record labels, TV networks and movie studios.”

    Interestingly this announcement of the tie up comes at a time when the world’s largest record company, Universal says that it will go after social sites like Youtube and MySpace for infringing copyright. Universal Music CEO Doug Morris has been quoted in reports saying that he believes that sites like youtube owe firms like Universal tens of millions of dollars.

  • MySpace to sell music to fans

    MySpace to sell music to fans

    MUMBAI: News Corp is looking to rival the success Apple has had with its online iTunes music store. The US media conglomerate is said to be looking to use its social networking site MySpace will let bands sell songs straight to fans.

    Media reports state by the end of the year, MySpace plans to allow bands that have yet to sign contracts with record labels to sell music on the site. The service will be managed by Snocap, a digital licensing company started by Napster founder Shawn Fanning.

    Artists can choose the tracks they want to sell, set the price for those tracks, and protect them with finger-printing technology. Bands upload music to Snocap’s registry. Snocap checks it against a digital database to make sure that it’s original and not, say, a copy of Madonna’s Like a Prayer, and then feeds musicians a string of code that can be placed anywhere within a MySpace profile. The digital storefronts will be available to all MySpace users by yearend.

    Unlike iTunes, where all tracks are 99 cents, musicians set their own prices. MySpace and Snocap say that they will take a cut just large enough to cover the costs of the materials. The artists will get most of the money.

  • News Corp looking to launch magazine for MySpace

    News Corp looking to launch magazine for MySpace

    MUMBAI: US media conglomerate News Corp is said to be looking at expanding the scope of its social networking site MySpace by making a print magazine.

    An Ad Age report suggested that the magazine would feature prominent members of the MySpace community and their interests.

    MySpace has held talks with music and fashion magazine Nylon about the initiative. The two parties have worked together before. In May, they joined up for the magazine’s seventh annual online music issue.

  • Viacom looking to acquire social networking site Bebo

    Viacom looking to acquire social networking site Bebo

    MUMBAI: In a bid to connect better with youth US media firms are looking to buy social networking sites. Last year, News Corp plonked down $580 million for MySpace.

    Now media reports indicate that Viacom is looking to acquire Bebo, a social networking site. In the UK, reports indicate that it has overtaken MySpace. In the US, though it has fewer users. It has 25 million users globally compared to around 90 million for MySpace.

    On Bebo, members can stay in touch with their college friends, connect with friends, share photos, discover new interests and just hang out. Reports indicate that it also provides video sharing (via VideoEgg widgets) and built-in Skype presence. While the designs may be more controlled than MySpace pages, most of Bebo’s success seems to arise from network effects – users join Bebo because everyone else is using the site.

    The founders of Bebo are said to be looking at upwards of a billion dollars. British Telecom’s offer of around $400 million was reportedly turned down. For the week ending 5 August, Bebo was the most visited social network in the UK, and its market share of visits has grown 17 per cent in the past two weeks. 1 in every 135 UK visits goes to Bebo, which is now the 11th most visited site on the Internet. Viacom was also said to have been looking at one stage to acquire Facebook the second largest social networking site in the US.

  • Digital radio is where it’s at

    Digital radio is where it’s at

    SINGAPORE: Looks like it’s time for traditional radio stations in India to pull up their socks, as digital and internet radio is already being lapped up by about 50 million music lovers across the world.

    Not just that, but new ways of accessing music, (via wireless and Internet) has brought in a paradigm shift in the functioning of the traditional audio medium…

    Just a quick dekko at some facts and sweeping changes. With Podcasting gaining ground, interactive and savvy consumers are creating their own customized radio stations online. We already have have more than 40,000 radio stations podcasting live; which is a disturbing fact considering that there are only 30,000 traditional radio stations across the world. Also, the success of sites like myspace.com have gone on to show that social networking sites will become more important for selling music as compared to TV or Radio.

    Media futurist, & ThinkAndLink, CEO, Gerd Leonhard dwelled at length on the future of radio yesterday, the last day of Broadcst Asia. Addressing a packed audience of professionals from across the world, Leonhard said, “Digital & internet radio is now big in countries like UK, Japan, Korea, Scandinavia and very soon it’s going to catch on across the world. Traditional radio companies have to accept this and move ahead with the changes.”

    He further added, “The radio industry is touted to be roughly around $ 50 billion a year, constituting around 15 per cent of total advertising revenues. Now, this pie is going to be further fragmented and shared by mobile companies, and even companies like Apple, Google; even mobile companies as well as wireless companies. What has now emerged is that content owners will not hold distribution rights to their content anymore, so the only thing is to accept this and try to monetize from this. So, one will see a a new type of advertising which will be the revenue driver along with the content.

    Some relevant data which emerged from the session was that myspace.com, which currently has 28 billion page views, seems to be more important tpo advertisers than even a heavy rotation on MTV. Also, to listen to music, it’s the always with you/always on devices that are critical (2 billion mobile users, coupled with 50 million ipods). 
    When queried on his views on the Indian radio market, Leonhard said that, India along with China, and some untapped markets in Africa and Middle East will lead the rapid growth.

    Also, with the mobile and technology revolution sweeping India, the rates will fall further and people will access digital radio sooner than even other parts of the world.

  • MySpace.com gets 50 mn US visitors in May: comScore Media Metrix

    MySpace.com gets 50 mn US visitors in May: comScore Media Metrix

    MUMBAI: comScore Media Metrix, which provides insight into American consumer behaviour and attitudes has released its monthly analysis of consumer activity at top online properties and categories.

    The social networking phenomenon continued its stratospheric ascent, as MySpace.com reached new heights with 50 million visitors in May and YouTube.com nearly doubled its traffic from April, reaching 12.6 million visitors.

    In addition to shopping for moms and grads, checking out job sites, and staying on top of personal finance and politics in May, Americans also flocked to their favourite TV show and sports sites, including those focused on the World Cup and NBA playoff games. 

    comScore Media Metrix president and CEO Peter Daboll says, “The popularity of social networking is not expected to wane in the near future. This is a phenomenon we’re seeing not only in the U.S., but also around the world. The challenge for social networking sites will now be monetisation and how advertisers will respond to the global marketing potential of these sites.”

    Americans demonstrated their interest in the World Cup soccer tournament and NBA Playoffs in the weeks preceeding the June tournaments. The NBA Internet Network attracted 6.3 million visitors in May which represents a 24 per cent increase versus April. fifaworldcup.yahoo.com — the official World Cup site — doubled its traffic, reaching more than 788,000 visitors.

    Even more impressive was the worldwide traffic to the official World Cup site during the opening days of the tournament, with more than five million unique visitors from around the globe visiting the site on 9 June. Traffic to the site remained strong throughout the opening weekend, with average daily visitors through 11 June surpassing 4.4 million visitors.

    Television fans headed to TV web sites in numbers to check out details for the season finales of their favourite shows. ABC, which aggressively promoted streamed versions of Lost and Desperate Housewives was rewarded with a 39 per cent increase in visitors to ABC.com, surging to 6.9 million visitors.

    Traffic to the Lost site increased 71 per cent to 1.2 million visitors in May. Meanwhile, the Desperate Housewives site attracted 528,000 visitors, up 36 per cent from the prior month, and the Extreme Makeover: Home Edition site saw a 41 per cent uptick in traffic to 286,000 visitors. The season finale of NBC’s long running ER drove traffic to the show’s site, with 236,000 visitors in May, up 49 per cent compared to April.