Viacom's MTV network had its first summer of ratings growth in six years, a sign that the company is seeing progress wooing back coveted younger viewers who watch shows online. Fred Katayama reports.
Viacom's MTV network had its first summer of ratings growth in six years. Once known as the edgy network for cool kids, MTV had lost its luster in recent years. Reuters correspondent Jessica Toonkel is covering the story. (SOUNDBITE) JESSICA TOONKEL, CORRESPONDENT, REUTERS (ENGLISH) SAYING: "MTV represents 15 percent Viacom's media networks revenue. So, the fact that MTV has this rating increase over the summer, which is also time when kids are home, is meaningful. I mean, it shows that the steps that they're taking to try to turn around the business are having some results. Having said that the greater headwinds around Viacom are still very much there, so it remains to be seen how much this gonna help move the needle for Viacom." In recent months, MTV has brought in new creative talent, re-engineered a number of existing shows, and made an effort to reach a younger audience through social media. Analysts say turning MTV around is crucial for the company. Viacom is also working on its other core networks, such as BET, Spike, and Comedy Central, to improve declining ratings and ad revenue.