MTV is facing a near 25% drop in viewership in their core demographic of 12-34 year olds.

MTV is facing the same thing every other traditional media (newspapers, radio, TV) is confronted with – a dwindling audience. Why? Because young people aren’t watching TV like they use to, instead they are spending the most time with other forms of media such as video games and the Internet.

MTV will launch 16 new unscripted series over the next 4½ months in order to thwart their unprecedented ratings drop.

“I don’t remember a period of ever making as much significant change at once,” says Brian Graden, president of entertainment at MTV Networks

Sean Combs, Matt Stone & Trey Parker, Donald Trump and Nick Lachey will produce the upcoming reality series.

“MTV’s fight for relevance in the digital age has led it to the same conclusion that many others rooted in the traditional media biz have come to: Big broadband traffic is certainly achievable for traditional media companies, but it isn’t easily monetized with ad dollars.”

“We’re finding out that digital isn’t the holy grail that everyone thought,” says one channel insider.