During a conference call this morning Google and Universal Music Group annouced the upcoming launch of VEVO, a site billed as ‘premium online music hub built for consumers, advertisers, and content owners..’. The site will include UMG’s catalog of music videos, and will be powered by YouTube’s technology. The two companies will share advertising revenue generated by the site. Reports of a joint venture between UMG and YouTube originally surfaced last month, when the two parties will still reportedly ironing out financial details.
The two companies say that at launch the site will have more traffic than any other music video site on the web.
Users will be able to access the content through the main hub at VEVO.com or through a VEVO channel on YouTube through a VEVO branded player (it sounds like you won’t be able to watch any of the content through standard YouTube embeds).
YouTube has also announced that it extended its deal with UMG that allows users to include songs from UMG in their YouTube videos.
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