Bolt dies Megavideo launches

2007/09/05 |

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Bolt, the video sharing site has filed for bankruptcy and ceased operations. They were sued by Universal Music for $10 million in October last year.

While one video sharing site dies, another is launched.

Megavideo is touting itself as the video sharing site that “Beats YouTube”. It offers a rewards program which awards 1 reward point per video view to Premium Members who pay around US$10 per month. You also earn by showing AdBrite ads in your videos.

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In order to get cash, you need 100,000 reward points to win a 1 year premium membership + US $100, with more points leading to greater money rewards. See its rewards program structure:

10000 reward points: One month premium membership
50000 reward points: 6 months premium membership
100000 reward points: One year premium + $100 USD
500000 reward points: Lifetime platinum + $500 USD
1000000 reward points: $1500 USD
5000000 reward points: $10000 USD

Compared to more established paid video sharing sites like MetaCafe where joining and uploading is free, Megavideo will face some resistance in getting members because of its paid subscription model. See the Megavideo self-promo video which lists 10 reasons why it is better than YouTube.