The entertainment trade magazine, Variety, today launched a new social network dubbed ‘the Biz‘. Created in conjunction with online job site Jobster, this network is said to be the first for the entertainment business.

Variety hopes to carve a niche out of larger social networks like LinkedIn, MySpace and Facebook.

The Biz is comprised of three elements according to the site:

Connect: Find colleagues, peers and mentors in the entertainment industry. Networking made easy.

Careers: Meet professionals directly inside entertainment. Recruit new talent. Search for jobs, promotions or projects.

Community: Exchange ideas, projects or test your latest big pitch among peers. Industry experts are here to bounce ideas. Your big break starts here.

As we’ve noted a few times in the past several months, Hollywood is quickly learning to take advantage of some key elements that the Internet has to offer. Online video is the obvious connection, but social networking should play an important role in the 21st century Hollywood as well.

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