Facebook, which has enjoyed explosive growth relative to rival social networking sites since a membership crisis six months ago, is set to unveil new features on Wednesday that mark its progress from a dating site for college kids into a mainstream network tool.
A lot of attention has been paid here and elsewhere to the notion that major media companies were planning a MeTooTube. But the venture actually being created by NBC Universal and News Corp. goes far beyond—it’s more like the anti-YouTube. From the gate, this venture is aimed at high CPM and highly distributed advertising along with the video and social tools. The players involved don’t need to build distribution and brand—they start with both.
News Corp. says that revenue from its popular social networking site tripled in the most recent quarter; company also vows that Fox will win this year’s ratings battle.
News Corp. president and chief operating officer Peter Chernin suggested that the company’s rapidly growing online division, which includes the popular social networking unit MySpace, could beat the company’s revenue targets for this fiscal year and will be profitable in 2008.
News Corp.’s Fox is in fourth place, last among major networks. But with ratings monster ‘American Idol’ coming back, it could easily leap from worst to first.
The calendar may say January. But now the new TV season can begin in earnest.
