UMG, YouTube to Launch Music and Video Service9 Apr, 2009 By: Billy Gil
Universal Music Group and YouTube are officially joining forces to launch Vevo, a music and video site featuring content from UMG.
Vevo will employ YouTube’s video technology and user community, while YouTube will feature a Vevo channel through a Vevo-branded embedded player. The two companies will share advertising revenue from Vevo, as well as from the companies’ renewed partnership to allow YouTube users to create user-generated videos using UMG sound recordings.
“Vevo will bring the most compelling premium music video content and services to the world’s single-largest online video audience,” said Doug Morris, chairman and CEO of Universal Music Group. “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.”