destra Video Boost for MySpace

By Rhys Haynes

November 14, 2007 12:00am
"This deal revolves around the fact that Destra has quite a lot of content across brands which are targeted towards the X-Y demographic," he said. "MySpace has a very similar target market."

ONLINE social networking website MySpace is offering more video content after locking in a deal with Lachlan Murdoch-backed Destra Corp.

News Corp-owned MySpace Australia's three million users will now have access to a large catalogue of free videos including extreme sports, fashion and short films as a result of the agreement.

Destra has attracted some high profile investors, with Mr Murdoch owning less than 5 per cent and Prime Media holding 19.99 per cent.

The news rocketed Destra's shares 8.5 per cent higher to 25.5c yesterday.

MySpace Australia's general manager Rebekah Horne yesterday said Destra's extensive library of video content would be very attractive to the website's users.

"Destra's compelling niche content provides a plethora of new, exciting and relevant material for our millions of users," Ms Horne said.

Destra chief executive Domenic Carosa said the partnership will extend the media company's online reach.

"Our strategy is basically to create and acquire content, to build communities around the content and to also monetise the content," Mr Carosa said.

Destra will share in revenue brought in from advertising on the website.

"This deal revolves around the fact that Destra has quite a lot of content across brands which are targeted towards the X-Y demographic," he said. "MySpace has a very similar target market."