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MTV Acquires iFILM

Oct 13, 2005  •  Post A Comment

MTV Networks has acquired iFILM Corp., an online video distribution site with a library of short-form content, the company announced Thursday. iFILM claims 10 million users per month and offers a large collection of short films and homemade video. The deal comes on the heels of MTVN’s purchase of Neopets, a virtual pet Web site.

“iFILM has been a major catalyst of online viral video and allows consumers to become publishers,” said Jason Hirschhorn, senior VP of digital music and media for MTV Networks. “We’re also excited about the partnership potential with our established brands like MTV, MTV2, mtvU, Comedy Central, SpikeTV and VH1.”

Added Judy McGrath, chairman and CEO of MTV Networks, “With iFILM’s strong business profile and growing traffic, we see significant opportunities for us to increase our online advertising revenue.”