Sony Music Entertainment Teams Up With Universal Music Group For VEVO Music Video Site

Sony Music Entertainment (SME) has teamed up with Universal Music Group (UMG) for the creation of Vevo, the new music video site conceived by UMG and powered by YouTube. When Vevo launches, users will be able to view professionally-created music videos and other content from UMG and SME artists. The content will be made available on VEVO.com as well as on YouTube through a newly created Vevo channel, and through a special Vevo-branded embedded player. The service will also serve as a syndication platform for additional Internet destination sites, expanding the reach of the Vevo brand across the web. In addition to the participation of SME and UMG, Vevo is exploring additional participation from third-party investors.

“We are delighted that SME has joined us in this exciting new service that will further transform premium music content into a legitimate commercial enterprise that benefits fans, artists and advertisers,” stated UMG Chairman and CEO Doug Morris. “Vevo will harness the power of the enormous traffic generated by YouTube and direct it to a dynamic destination created specifically for consumers and advertisers alike.”

SME CEO Rolf Schmidt-Holtz added, “We are excited to be participating in Vevo with Universal Music Group. SME is committed to delivering the best possible music experiences to consumers and with Vevo, we share a common vision of offering music videos and other premium video content from some of the world’s greatest artists in an attractive, clean and intuitive environment that appeals to fans and advertisers alike. We look forward to working with Vevo to develop a first-class destination that will attract a massive online audience from day one, boast some of the most desirable demographics on the Web and develop new and innovative ways to monetize music video.”

Vevo was officially announced in April, and it is expected to launch later this year.

http://vevo.com/