MTV is blaming its tumbling ratings, profits, and cultural resonance on their failed Internet strategy. The execs at MTV are mad that Youtube and MySpace are stylin' on them, so they laid off over 200 people, and plan to beef up their digital divisions.
This doesn't make sense to me. For all of the hype about the net, most big media companies only make a fraction of their profits from their web strategy, word to Vibe Magazine Media Group. Even FOX, which owns MySpace barely makes any coin from the web, compared to their movie, TV, print, and radio divisions.
For MTV, I blame their lame television programming for all their troubles. In the last year I noticed that I've stopped watching MTV almost completely, yet the network used to be my TV startpage - that's how much I had it on. While other networks have returned to quality scripted dramas (hooray for Heroes and 24!), MTV continues to push reality shows (Laguna Beach, 2 a Days, etc.) that are too weak to be documentaries, yet take themselves too seriously to be hits like VH1's Flavor of Love franchise.
Oh yeah, and the VMAs have been sucking for years.
Oh yeah, and the MTV Movie Awards need to show some integrity and stop giving prizes to its own films.