MySpace Launches First Scripted Series

Found this article on Marketing Vox. Is this the future of TV? Who needs TV networks when Social Media sites have millions of potential viewers?:

MySpace has launched its first scripted online series, with Ford Focus sponsoring, via MySpaceTV.

The show, Roommates, follows eight former college roomies that have all picked up and moved to LA. The show sports an interactive side where users can check out characters' MySpace profiles and "influence the arc of the show," according to AdWeek.
The show is taking a cue from other "webisodes" like the LonelyGirl15 drama or Prom Queen. It runs about 3 minutes in length daily. While MySpace owns the editorial content, LA-based Iron Sink Media will handle production.
Recently P&G unveiled Crescent Heights, an online series sponsored by Tide. It took a severe panning when audience members critiqued the show's sense of authenticity.
Favorable comments on the discussion forum were also revealed to be written by people commissioned by P&G, or possibly employees, reports Adrants.But Ford, which will be sponsoring Roommates, is no stranger to the webisode circuit in previous efforts to attract young car buyers. Its Mercury brand launched web show forays in 2006 and 2004.