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[Abstract The Media Value Chain Ontology (MVCO) is an ontology for formalizing the representation of the Media Value Chain. It couples naturally with the MPEG-21 multimedia framework, and its standardization as Part 19 of this ISO/IEC standard is underway (at the editing time of this document). Although hooked on the broader framework of the MPEG-21 standard, the MVCO ontology is complete and useful on its way. The MVCO is quite a relative small ontology, (less than 60 classes and 20 properties), simple to understand and accompanied by a forthcoming Java API. It has been coded as an OWL Ontology.]