MySpaceTV: Another YouTube rival?

MySpace, the social networking site owned by News Corp, will be launching a refurbished video sharing site that does not require MySpace membership to be accessed.

MySpaceTV will contain videos in about 16 categories, which will be a mix of professional and user-generated content.

Quote from the article @ Webware:

"It's really just the next step in what has been a very busy few months for us on the video front," said Jeff Berman,'s general manager of video operations. He also added that the beta version of MySpace TV will be active by the weekend, "and what will be an extremely busy and productive next few months as we roll out more products and feature enhancements.

According to ComScore statistics, MySpace videos have been attracting a lot of traffic. Added to this, YouTube would be facing much more competition down the line when News.corp's jointly-founded video site goes online. The ability to edit online is one of the great features at MySpaceTV, concluding from the purchase of Flektor, a video-editing start up, by Fox Interactive Media, which is the parent of MySpace.

More news links:

MySpace to launch MySpaceTV, targeting YouTube's hold on video (AHN)

MySpace takes on YouTube (Vnunet)

The site offers features comparable to that of YouTube with subtle differences here and there. With more new competitors coming in to cash on the "video" boom, are users satisfied with the options available online? What do you look for in a video-sharing site? State you opinion here.