Update YouTube and Universal team up for Vevo -
YouTube and Universal team up for Vevo
YouTube and Vivendi’s Universal Music Group are teaming up to launch a new music video website called Vevo.
The new venture has been rumoured for the past few weeks and the two companies have now officially confirmed a launch is imminent in the next few months. The deal brings together the most popular video web site in the world with the biggest music company.
YouTube will handle the technology while Universal Music will supply the music videos. At first, Universal will be the only supplier of content.
The video clips will be free to view, but the two companies hope to sell premium priced advertising on the site.