Youtube and Universal found music portal Vevo
YouTube and Universal have announced a joint platform for music videos. With this new site, YouTube’s owner, Google, is likely hoping to finally reap the long-awaited financial rewards that have so far eluded YouTube. In addition, the partnership is likely to improve the relationship between the music platform and the major record labels, which has often been strained in the past.
The Internet video portal YouTube and the music group Universal have announced a joint platform for music videos. The website will be launched in the course of 2009 under the name Vevo. The videos of artists who are under contract with Universal will be available on the site. These include stars such as U2 and Amy Winehouse. YouTube owner Google is providing the technology for the joint project.
The site will also attract music fans and advertisers with high-resolution videos and will be wholly owned by Universal. YouTube and Universal will share the advertising revenue, as reported by SDA. Google hopes that this will enable it to finally earn a lot of money with its highly popular video site. Allegedly, the companies also want to get other music groups such as EMI and Sony Music on board.
The collaboration is also set to open a new chapter in the often tense relationship between YouTube and media groups such as Universal, which have often complained about copyright infringements on the site. Google bought the popular YouTube platform in October 2006.
The site will also attract music fans and advertisers with high-resolution videos and will be wholly owned by Universal. YouTube and Universal will share the advertising revenue, as reported by SDA. Google hopes that this will enable it to finally earn a lot of money with its highly popular video site. Allegedly, the companies also want to get other music groups such as EMI and Sony Music on board.
The collaboration is also set to open a new chapter in the often tense relationship between YouTube and media groups such as Universal, which have often complained about copyright infringements on the site. Google bought the popular YouTube platform in October 2006.
