MTV, MySpace aims to generate revenues from pirated media on social networks

MTV, MySpace aims to generate revenues from pirated media on social networks

MTV, MySpace are now working with technology company Auditude to identify pirated media uploaded on social networking sites and monetize them.

They are going to offer two options… Either the copyrighted content can be removed or they can serve ads in it to monetize it for themselves.

The aim is to provide an alternative to current market scenario where media companies file lawsuits against the web services asking them to remove the infringing content from their sites.

Jeff Berman, president of sales and marketing at MySpace said in a statement on this new development: “This is a game-changer. We’re going from a world of no to a world of yes while protecting the rights of the copyright holder.”

The ads would be delivered inside the videos. YouTube does something similar with copyrighted content uploaded on the service. The revenues are shared with the content owners.

Checkout: Auditude