MTV Networks will invest $50 million in Amp'd Mobile Inc. and will work with the mobile virtual network operator to offer both repurposed and exclusive, made-for-mobile content from MTV, VH1 and Comedy Central.
"When we began this company, partnering with MTV Networks was our No. 1 goal," said Peter Adderton, chief executive officer of Amp'd. "With MTV Networks' investment, we're also assured the ongoing involvement of the world's foremost youth culture experts. This is a big win for us."
Amp'd said it plans to deliver video clips, ring tones, ringback tones and wallpapers from 10 MTV Networks franchises. The companies will also develop short-form video content including interviews and behind-the-scenes clips exclusively for Amp'd subscribers.
Under terms of the deal, MTV Networks Chief Digital Officer Jason Hirschhorn will join the MVNO's board of directors. The companies said they plan to develop joint marketing and promotions across MTV Networks' brands and advertising channels.
The announcement marks a major win for Amp'd and a substantial move into mobile from the Viacom subsidiary. MTV previously teamed with Virgin Mobile USA to offer ring tones and other branded content, and the company is one of a handful of high-profile media companies already producing content exclusively for mobile users.
MTV also hopes to make an upcoming digital music service available to Amp'd subscribers.
Amp'd, which has said it plans to launch online in a limited manner tomorrow, continues to expand its content portfolio. The operator unveiled deals with CBS and UPN yesterday, and three weeks ago Amp'd delivered a live broadcast of an Ultimate Fighting Championship event to select trial users.