WebProNews

MySpace and Viacom's MTV Networks have partnered with online video advertising firm Auditude to allow users to post copyright video online in exchange for advertising from the source.

The agreement will allow content owners to profit from videos clips that are uploaded and distributed without permission by using Auditude's video-fingerprinting system that cross indexes billions of  TV and online video in seconds.

"Auditude is opening the floodgates for users to program video on MySpace and ensure copyright holders get paid," said Jeff Berman, MySpace President of Marketing and Sales. "In one fell swoop, Auditude and its partners are empowering consumers and building a better business model. That's a good deal all around."

News Corp's MySpace will be implementing the system with support for content from MTV Networks, with programming including " The Daily Show," "The Colbert Report," "Pun'd," and "The Hills."

MySpace will use Auditude's "Attribution Overlay," which automatically identifies content informer viewers about details of shows being viewed online. The attribution allows content owners to integrate information about the video clip being  played and provides viewers with links to buy or view additional content.

"Our partnership with MySpace allows us to help content owners, like MTV Networks, reach their fans where they are most active," said Adam Cahan, CEO of Auditude. "We hope to grow the market for monetizing online video by simplifying ad targeting and providing scale through audience participation."