YouTube, Universal Launching Music Video Site
Posted on April 10th, 2009 by Mike Sachoff in the Articles section
YouTube and Universal Music Group are working together to launch a music and video entertainment service called VEVO that will feature UMG’s professional video content.
VEVO will launch later this year using technology provided by Google’s YouTube. The two companies will also share advertising revenue. On YouTube, VEVO will have its own branded channel in addition to the standalone site.
“We believe that at launch, VEVO will already have more traffic than any other music video site in the United States and in the world,” said Doug Morris, Chairman & Chief Executive Officer of Universal Music Group.
“And this traffic represents the most sought after demographic for advertisers, especially as advertising dollars continue their shift from old media to new.”
At launch, people will be able to access UMG’s entire catalog of music video content on VEVO, as well as artist-generated content and user-generated content hosted on YouTube.
Currently, UMG’s YouTube video channel has more than 3.5 billion views, making the UMG channel the most watched on YouTube.
“Technology has allowed fans to discover music in endless ways while creating new business opportunities for artists and labels alike,” said Eric Schmidt, Chairman of the Board & Chief Executive Officer of Google Inc.