Starting in early 2010, Simon Fuller's "If I Can Dream" will follow three aspiring actors, a model and a musician whose experiences will be streamed live. Viewers will have a chance to comment on what they see, and influence it, through blogs, MySpace, Twitter and Facebook.
The announcement Wednesday said the project is designed for the social networking set and will be "unfiltered and unvarnished."
"If I Can Dream" will launch across multiple platforms, including mobile handsets and radio. An edited episode will be available weekly on Hulu.com and distributed internationally.