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Viacom Sees MTV As Key To International Strategy
Media titan Viacom Inc. plans to use its MTV Networks unit as the foundation of its global strategy, with focus on emerging markets in China, India and Brazil, its chief executive Sumner Redstone said on Sunday. MTV, which reaches 340 million homes worldwide, is growing quickly in Asia, reaching nearly 130 million homes. “This is a region that has over 3 billion people, which should give you an idea about the potential for us,” Redstone said. The U.S. spends about 0.6 percent of its gross domestic product on television advertising, compared with 0.2 percent in China, where MTV reaches 54… Read more »