According to something I just read over at CNET, Rupert Murdoch is ready to create an online video monster, or at least to reshape MySpace into an 'entertainment hub.' How will he do that? By partnering the site up with Hulu.While details are sketchy on his plan it seems that he wants to take Myspace out of the purely social networking genre (even with Myspace Music it's still pretty much a social network) and bring it into the full-fledged online video age. His plans do include bringing in a large amount of video including TV, music videos and even full-length feature films. It will co hand-in-hand with a redesign of the video portion of the site and re-branding we're told. Since he (via News Corp.) owns all of MySpace and a sizable piece of Hulu, I can't see how it wouldn't go forward.
Sure MySpace video is nowhere near what it could be one day which is a rival to the largest video networks out there like Netflix and YouTube. The question that remains to be answered of course is – download, streaming or subscription model? He stated he wanted to better monetize the site and content so that means more advertising, but does that also mean users will pay?
If Hulu goes to a subscription-based model wouldn't it make sense that MySpace would as well? Or perhaps Hulu will go subscription only and the only way to get the free ad-supported content will be to get it via Myspace Video. Ugh, I'm sorry I thought of that idea because if it becomes a reality…
Of course if Hulu does go subscription and kills their free content I guess we'll all have to go somewhere to get it and of all the possibilities, MySpace isn't really so bad, now is it?