MTV to Hike Non-US Investment by 20%

23 January 2003

Viacom-owned Music Television, known the world over as MTV, plans a major investment drive to create new programs and develop new markets across the globe. The outlay – in total 20% up on 2002 – will cover all regions and programming across MTV’s 65 channels outside its US homeland.

In Europe, expenditure on original programming is forecast to double, fuelled by last year’s 40% increase in European profits and will be spread across the MTV, VH1 and Nickelodeon channels.

MTV also intends to launch legal internet subscription services for downloading music, seen as the music industry's main weapon in the battle against illegal piracy.

Addressing the Midem Music Conference in Cannes, France, MTV Networks International president Bill Roedy told delegates: “Eight out of ten viewers on MTV are outside the US. We’re seeking a 40% per cent increase in our earnings [before interest, tax, depreciation and amortisation] this past year from the non-US operations.”

Roedy, however, was coy as to the total value of the investments associated with the new services and channels. He was equally uncommunicative about MTV International’s financial performance last year.

Data sourced from: Financial Times; additional content by WARC staff