This seems a competitor to the famous youtube. News corp yesterday announced the launch of Myspacetv. News corp is the same who owns Myspace.Myspace have very large number of users from whom they are collecting videos and they have recently bought Photobucket too which will surely help the new site.
They may be planning to give direct threat to myspace but I belive it will be very hard to reveal them from the top space. The stronger thing about Youtube is they are backed my the powerfull Google.
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