NEW YORK: Online social networking powerhouse is set to launch its own dedicated video and television service.

Owner News Corporation hopes the beta-version of its new offering will pave the way for a serious threat to YouTube's dominance in this arena.

MySpaceTV will be a specific platform both for user-generated video clips and professionally-created videos, including news broadcasts and webisodes related to existing TV shows from the likes of NBC Universal and NewsCorp unit Fox Television.

Says MySpace general manager of video Jeff Berman: "This works just as well for NBC and Fox and for the aspiring Steven Spielberg as it does for the kid doing skateboard tricks on the weekend."

Data sourced from AdWeek (USA); additional content by WARC staff