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Online Music Videos: Mtv Overdrive
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Recent licensing deals between major record labels and online publishers greatly narrowed where people can watch music videos online. Destinations such as AOL Music, Yahoo Music, MSN Music, and MTV Overdrive are infused with video content that can't be found in many places or, in some cases, anywhere else. It's only a matter of time before record labels official artist Web sites carry significant amounts of video content to realize greater ad sales potential.
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Formed in July 1999, MTV Networks Music is the world's leading online music entertainment company, with 22 worldwide music destinations on the Web. MTV Networks Music Web sites bring original and innovative online music and entertainment programming to each network. MTV Networks Music ... includes 14 international destinations throughout Europe, Asia and Latin America.
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MTV, the channel that defined music videos, isn't sitting out the digital revolution. On-air, the TV channel urges viewers to go to MTV.com to see the latest videos and video premieres. "We realize that we live in an on-demand culture," MTV Executive Vice President Courtney Holt says.
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MTV is preparing its own online music video venture dubbed "Overdrive." Overdrive will feature news, music, television, movies, and "The Lineup" featuring highlights of all channels and a continuous MTV news ticker. MTV is currently building a new studio in Times Square to develop exclusive content for MTV Overdrive.
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Whether MTV's Internet properties, which include MTV.com, VH1.com, and SonicNet, will have equal success with scoring online music videos, remains to be seen. Vidich says Warner Music Group had only had preliminary talks with MTV, and added that the label would look for deals with similar cash and/or equity terms.
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MTV recently bought a 50% interest in digital music service Rhapsody to expand its online music reach. Both Rhapsody and MTV.com show music videos on their sites, while some sites — most notably Apple's iTunes — offer them for sale. Caraeff says streaming music videos represent the bulk of the action for music videos and that downloads represent a tiny fraction of sales. Hesse says his best-selling download of all time — a recent Timberlake song — clocked in at just 58,000 sales for $1.99 apiece.
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Mtv Overdrive