Universal Music Group & Google Extend YouTube Deal – Launch Vevo
Universal Music Group and Google announced that they would extend their agreement to allow Universal’s music available for user-generated content on YouTube.
Universal also announced the launch of Vevo which will provide Universal’s music video library to the masses in a more “controlled” environment. While the music videos are slowly being deployed to Vevo, YouTube’s licensing deal will allow budding video producers to include Universal songs in their short form movies.
YouTube will still display the music videos on its site, but only through a “special VEVO branded embedded player.” YouTube and Universal will split revenues from both Universal’s music on YouTube and from VEVO.
Doug Morris, Universal Music’s CEO, stated “VEVO will be uniquely positioned to monetize this opportunity and a host of others as we grow it to become ‘the’ destination for premium music video content online.”