Blog Post

Citigroup Media Confab: MySpace To Launch Video Downloads, IM Service

Updated: read below: At the Citigroup Entertainment, Media and Telecom conference, Rupert Murdoch outlines some plans for MySpace and other Internet ventures. [The archived webcast of his talk is here…] He said:

— “This week, we’re starting free video downloads on MySpace [Ed: not sure what he means…I’m assuming he means music video downloads from bands on MySpace. It could also be Fox TV shows], which will be tremendous. We will probably have millions of downloads per day. [Is this the video download page?]

— Very shortly, we’ll be launching our own instant messaging service [on MySpace]. It was a technology from IGN…we’ve refined it for MySpace. And following that we’ll add voice to it too.

— Revenues: On a present trajectory, our main sites with MySpace-FoxSports-IGN would rake in about $350-400 million in revenues in 2007 and will take off from there.

We’re the biggest mass of unsold inventory for now…we have the third-most page views online in U.S. now, only behind Yahoo and MSN. We’re building a business on community sites…no one has done that before. It is clearly the way to go.”

Reuters: The company will disclose in the next two months how to enter the wireless high- speed Internet market. The plans are likely to involve DirecTV investing about $1 billion. “We are looking at various alternatives … perhaps going it alone and, of course, the different technologies,” Murdoch said.

Updated: WSJ goes hyper with the same audio I listened to…I didn’t hear him waxing over plans to turn MySpace into a full-fledged portal…in fact, the opposite. He said, as he said in the past, that they don’t want to launch a portal in direct comptition to Yahoo or MSN, but wants a distrbuted community-focused service, leveraging on the huge reach of MySpace. Julia, stop drinking that coffee and relax…