MTV Network launches MTV Overdrive

Via Reuters: MTV Networks, which has produced hits such as "The Osbournes" and "Punk?d," has joined of group of companies using the Internet to deliver high-quality video to consumers. The free Web-based channel, "MTV Overdrive," will allow viewers to watch full-length music videos on demand, extended versions of programs that have aired on MTV?s television network, such as "TRL," and original video updates from its MTV News operation, according to Reuters.

"With an incredibly high percentage of young people using broadband, it seemed essential to create a new hybrid screen with its own content," said Jason Hirschhorn, senior vice president of Digital Music & Media at MTV Networks.

Van Toffler, President of MTV Networks, said he is not at all concerned that creating "MTV Overdrive" will detract existing MTV television viewers.

"The TV experience is still great. Our ratings are moving higher and we don?t fear that (losing viewers). (Also) we are capturing money that is going to new media," said Toffler.