MSN to launch YouTube rival site

MSN is gearing up to launch a video-sharing community website in a bid to match the popularity of YouTube and MySpace. The launch marks a significant strategic move by MSN, with online video-sharing becoming easier as broadband penetration grows. Since launching in January last year, social networking website YouTube has grown phenomenally fast to become the fourth-largest such site, with around 40m unique users. According to a recent Hitwise study, YouTube and MySpace dominate video web searches, with a combined share of 65 per cent. YouTube alone accounts for almost 43 per cent of the market share. Established online media players - Google, Yahoo, MSN and AOL - have failed to significantly tap the phenomenon. Each of the firms already has a video search service but, according to the recent Hitwise study, none of them holds more that 9 per cent of the market. Last month, Yahoo announced it was developing its video search service to be more community focused. AOL has a service beyond video search called Uncut that uses the strapline ‘See it, shoot it, share it’. MSN said that the new site would be separate from its existing online social community MSN Spaces. (Media Guardian,June 26, 2006)

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