Channel V nightclub is located in Mingalar Mon Market, in the same building as JJ Club. At the entrance, the bouncers will assume that you are interested with the latter and they may take you to the 4th floor instead of the 5th.
You may want to visit both, but I enjoyed Channel V much more. It is less luxurious, with only local Burmese as far as I could tell. I may be naive but I don't think the girls there were prostitutes (at least not 100%). They seemed to be students (some probably still in high school) from middle-class families. Maybe a quarter of them had dyed blond hair. I spotted some lady boys as well. Anyway, it was a fun and packed crowd that was going really crazy at each songs, singing and dancing like only young people do.
The music was pretty cool. It was a mix of commercial EDM tracks with remixes of famous songs (including old Rock & Roll hits). There were also some Burmese/Thai songs.
The entrance fee is 5,000MMK with one free beer or soft drink. It closes at 2AM. After this time you'll need to walk down the stairs down to the lobby as they turn off the elevator.
Avoid the taxis near the exit. They'll charge you double prices. You can find many more on Banyar Dala Road nearby.
Overall:
My favorite nightclub in Yangon. Channel V is really fun and easy-going. It is also one of the few places in the city where you can easily meet girls who aren't prostitutes.
*Sorry for the terrible photos, they had a very strict "no camera" policy so I only managed to take a few with my phone...
Opening Hours:
Every day until 2AM.
Channel V Nightclub
5th Floor, Mingalar Mon Market
Set Yon Road, off Banyar Dala Road, Yangon