MTV invests in Amp’d Mobile
Just yesterday, we had the news of MTV planning to launch its own digital music store URGE in collaboration with Microsoft sometime next year. And now, the network has announced plans to become an investor in privately held Amp’d Mobile. MTV would now be providing content for the wireless service, Amp’d plans to kick off this week.
MTV would as a result of this investment would also get to place an executive in the board of the startup. The investment is rumored to be in the region of close to $50 million as no official word has been given in this regards. Amp’d has now rented space on the Verizon Wireless network and they would be selling mobile phone service aimed at young adults.
The market is pretty competitive with big giants like Walt Disney Co. and SK Telecom setting up their own operations aiming to carve out their own market share in the United States. Another company Helio, a venture between EarthLink Inc. and SK Telecom is expected to soon launch their own operations.
However, no matter where they stand in the market, Amp’d claims that theirs would be the first service aimed solely at ages 18 to 24. The company would be starting to sell their phones and service plans on its Web site www.ampd.com on December 15. A wider launch is expected sometime next month.