Google’s YouTube and the Universal Music Group, the world’s largest music label, are in advanced discussions over a licensing agreement that could lead to the creation of a premium site for music videos, according a person briefed on the talks.
Tag: Universal Music Group
In the beleaguered music industry’s latest bid to generate more money from its content, two top music labels on Tuesday will introduce Vevo, a Web site for music videos. Vevo is co-owned by the Universal Music Group, Sony Music Entertainment and the Abu Dhabi Media Company. Vevo said Monday that it had signed up a third major music label, EMI Music, as a video provider, leaving only one holdout among the big four labels, Warner Music. Vevo said conversations with Warner were continuing.
Google's YouTube and Universal Music Group, the world's largest record label, are going into business together in a deal they hope will forge a future for ad-supported music.