MySpace, MTV Networks team with Auditude to profit from online video

It just goes to show that you can teach old media new tricks.

Television networks and Hollywood studios used to try to prevent people from uploading copyrighted content on the Internet. Now they are looking to profit from the practice.

MTV Networks is teaming with MySpace to run advertising on clips from "The Daily Show with Jon Stewart," "Punk’d" and other shows that MySpace users upload to the social network site — whether they have permission or not. They plan to announce the deal with Auditude, a Silicon Valley start-up that is providing the advertising technology, on Monday morning.

The strategy is similar to that of YouTube, which late last year launched a system that identifies video clips and then offers copyright holders a choice between removing the material or letting YouTube place ads on it in exchange for a piece of the revenue.

Analysts say the strategy -- and others like it -- show great promise. You can read the full story about MySpace, MTV and Auditude here.

-- Jessica Guynn

Image: Punk'd on MySpace

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