When the My-Super-Sweet-16-ers grow up, they would be interested in this video site: two former executives at MTV are launching (it will go live Monday it is live now) a new video site, called Code.tv, aimed at, well, rich young people. (The “about” area says it all: “CODE.TV is privileged television.") The site features local culture and lifestyle programming for New York City and the Hamptons, with LA and other city-specific channels to follow. The site’s targeted demo is 25-to-49-year-olds who earn $100,000 or more a year, a 5-million large category, according to the company.
The founder CEO is Joseph Varet, who was senior director responsible for business development and strategic planning for new TV and broadband networks at MTV. Morgan Hertzan is the Chief Creative Office, and was most recently exec producer at MTV.
The company is all ex-MTVers: Besides Joseph and Morgan, all the other 12 employees are also from MTV. The company has angel funding from private investors.
The content, as I saw it, is all Flash-goodness, and is powered through Brightcove, so has the blog and sharing elements built in as well. For now, the site needs to build a sizeable repository of content for it to be of any daily or even weekly use.
Staci adds: “Fine Living” for the MTV set with high production values and an emphasis on first-look editorial content. (The company says that it doesn’t accept promotional consideration unless otherwise noted.) Like many start-ups hoping to capitalize on current ad conditions, Code.tv’s business model relies on ad support but it’s not launching with advertisers.