Earlier this month, social networking giant MySpace.com launched new sites for short films and video clips. MySpace Film is looking to duplicate the site's success as a hub for signed and unsigned music artists by giving pro and amateur filmmakers a platform to air their cinematic creations. The company is also promoting a Videos tab for users to upload homegrown and viral clips.
MySpace, acquired last year by News Corp.
News Corp. chief Rupert Murdoch's media empire is seen as mostly a collection of old-school television and newspaper properties, but he's clearly tapping into the pulse of today's young Internet users with MySpace. It's an opportunity that News Corp. isn't about to squander.
MySpace Film is gunning for popular sites like Viacom's
With bandwidth costs dropping, companies like Google and Apple
In short, keep an eye on the traffic that MySpace generates in these new areas. If the site fares as well for aspiring filmmakers as it has for indie musicians and angst-ridden teens, Murdoch may find himself crashing another new-economy party.
Longtime Fool contributor Rick Munarriz is in awe of filmmaking, but he can't even get a USB webcam plugged in right. He does not own shares in any of the companies in this story. The Fool has a disclosure policy. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.