Looks like labels are starting to hop on the Youtube bandwagon. "If You Can't Beat Them... Join them"!
Big ups to ballerstatus.com for this one. The revolution will not be televised.
Universal Music Group (UMG) is reportedly teaming up with viral video sharing giant YouTube for an online music video venture set to launch later this year, which will include the music label's entire catalog.
According to the Associated Press, the new venture is called Vevo, where YouTube will supply the technological expertise, while UMG will supply the content. The companies will then share ad revenue.
The site appears that it will only feature content from artists UMG represents. However, Universal's top exec Doug Morris said, via a conference call, that they are in negotiations with other labels to hop onboard. UMG is the largest of the four top recording company in the music biz. Read more
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