The cable powerhouse is losing out to rivals like MySpace and Yahoo Video, according to a story in the Wall Street Journal.
Although it has long been able to fend off rivals for the young adult audience on TV, MTV trails in attracting fans to MTV Overdrive, its web-video domain, says a page one story by Matthew Karnitschnig in the Wall Street Journal. Overdrive attracts fewer than 4 million visitors per month, compared to nearly 55 million for MySpace and 16 million for fast-growing YouTube.
Young people interviewed in the Journal story said they aren’t finding enough music videos on MTV Overdrive and some objected to 30-second commercials that appear before videos begin on the site. They also find edgier material on sites like MySpace and YouTube, but MTV advertisers don’t want to be associated with such videos. MTV executives are confident they will build Overdrive into a strong rival on the Web, they told the paper.