Hulu, Pepsi Among Early Sponsors of Simon Fuller’s Next Project

The “American Idol” creator is readying an online documentary series about young folks trying to make it in Hollywood

Hulu, Clear Channel, MySpace, Ford and Pepsi have all signed on as sponsors and production partners for "If I Can Dream," a new online docusoap series announced last summer by Simon Fuller ("American Idol")

The project follows aspiring entertainers living together under one roof and captures their attempts to find success. It’s expected to premiere early next year.

Hulu will assemble a TV-like recap of the week’s activities and stream it each week. Clear Channel radio stations will interact with cast members via regular on-air conversations, while MySpace will be active in the casting process. Ford and Pepsi, meanwhile, are working on product integrations.

Fuller isn’t the only British media mogul planning an online reality soap. Frenemy Simon Cowell has recently made rumblings about bringing his "X Factor" singing show to the U.S. via the Internet, though a deal to put the show on the air via Fox Broadcasting also seems very likely.

re also confirmed as founding partners for the production.