Noah has started a great post about how MTV is currently placed and compared it to when he was a kid . He was really asking the question 'what happened'. I think its quite easy... youtube is killing the video star.
MTV grew up in an age of cultural change. I time when TV content was building expecially in the US. Creativity was building outside the usual sitcom format. But now we have another change to the culture of the key audience for MTV. There is a latent good will that we who work in the industry now... have with MTV but it really isnt delivering for their audience.
There is also a break up in smaller groups or youth tribes as channel 4 in the UK has done some great research on. It talks about the broader tribes but also the smaller breakouts as they are driven by likeminded people. Likeminded around areas such as music. But music is getting a case of the long tail as well. Smaller songs more often... just like the problem that all music companies are having. Be interesting how they take their brand into the future.
If anyone wants to mash up this song with the new words of ' youtube killed the videostar' go right ahead