Not too long ago we warned you that this was coming: Universal and Google have officially announced the launch of VEVO, a music and video entertainment service set to launch this year.
Universal Music Group Chairman and CEO Doug Morris said in a statement that "it will be through VEVO that YouTube's 100 million-lus users access UMG's extensive catalog of premium music video content, including professionally-created and full-length videos, as well as artist-generated and curated user-generated content."
So far we can't really tell what makes this different from Universal having its own YouTube page, other than the company's anal need for absolute control of everything being temporarily satiated. Maybe these extremely vague words from Morris will help clear things up. Or possibly not.
VEVO will also serve as a syndication platform for us, expanding the reach of the VEVO brand, providing the highest quality experience for consumers, and enabling advertisers to leverage the power of UMG‘s market-leading video catalog to reach tens of millions of consumers whenever and wherever they watch online. Eventually, this innovative platform will grow even further to host numerous other services, all aimed at providing consumers the very best in digital music content while further extending UMG‘s lead in the direct-to-consumer market.
UMG takes great pride in being a leader and innovator in the digital space. Our new partnership with Google/YouTube will provide us with another platform to further leverage our musical content to not only capitalize on opportunities, but to create many new ones on our own. And along the way, to always be mindful of our responsibility to our artists, songwriters, composers and business partners, and to create real value for them.