On the Bandwagon
Created in black and white, reinvented in color, TV is now advancing light- years ahead with the power of broadband. In March 2006, former MTV executives Joseph Varet, 31, and Morgan Hertzan, 30, launched LX.TV, a broadband network featuring original lifestyle and culture programming geared toward the young affluent market. Their 3- to 15-minute video segments now attract 150,000 unique viewers each month, year-end sales are expected to hit the mid-seven digits, and they've signed on sponsors like Absolut Vodka and American Express, who are eager to reach this traditionally elusive crowd.
The duo got LX.TV off the ground quickly using turnkey software. Now they're just trying to stay grounded as the market rapidly evolves around them. "This is going to be the most important period of evolution for the TV industry that I'm likely to see in my career," says Varet. "The cutting edge of that is where I felt I needed to position myself."