Video Killed The Old Social Network Star: MTV Wants To Replace Myspace

Look out Myspace, here comes MTV. It’s a long running myth (at least some believe it’s a myth) that video killed the radio star, wouldn’t it be ironic that the company responsible is also trying to kill a once powerful social media star?

Word has just broke that MTV is launching it’s own social music site in an apparent bid to replace MySpace.

The announcement about the site, Artists.mtv, was made today at SXSW by MTV Music Group President Van Toffler. He said the the site will launch this summer. Artists.MTV is expected to start at around 10,000 artist pages and then grow from there.

Musicians will be able to customize their pages with music, video, merchandise and ticket sales.

Artists.MTV will be open to established acts as well as aspiring ones. MTV describes it as a chance for acts to have “a digital homestead” to gather their presence across MTV and its myriad sister channels and websites.

“There is infinite choice out there, but with this artist platform, we want to provide a meaningful road map for consumers to weed through the chaos and discover the musical gems that should break through,” Toffler said in a statement.

This could signal the end of MySpace, the first real social giant. It is now but a shell of its old self. MySpace, which at one time was valued in the billions, was only able to garner $35 million when it was sold to Specific Media last year.

Accordong to Toffler, MTV plans on bridging it’s television networks, which include VH1 and CMT to digital fame. That appears to be in the form, at least in the beginning, of “Full Frontal” A monthly contest that will take an artist that is first selected by fans, then must be approved by a revolving group of musicians, producers and other industry insiders.

MTV has said that the site will launch in private beta in May.

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