YouTube and Universal to launch music video site
Google’s YouTube and Universal Music Group, the world’s largest recording company, are teaming up on an online music video venture.
The two companies announced on Thursday that they are working together to turn Vevo.com into a premier music and video entertainment service set to launch later this year. YouTube and UMG will share advertising revenue generated by the site.
According to Reuters, Vevo will feature higher-quality videos, as opposed to the typical grainy and often user-generated videos on YouTube.
Google and Universal hope that by creating a destination outside YouTube’s crowded site, Vevo will generate more interest from advertisers than music videos have in the past.
Other labels are also expected to sign up, in an effort to control the flood of unauthorized copies of their videos currently circulating online.