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Thursday, April 09, 2009

Google, Universal Music Partner On Vevo

The music industry, which has been in decline for years now, gets a boost from the digital cosmos. From CNET:

"Universal Music Group and Google are now partners in the music-video business.

"The largest of the four top recording companies and YouTube's parent company announced on Thursday that they are working together on Vevo, a new music and video entertainment service set to launch later this year. YouTube will handle the technology while Universal Music supplies the content. The two companies will share ad revenue.

"The companies said and at this point it appears that Universal's content and artists will be the only label represented on the site. However, Doug Morris, Universal Music's chief executive, said in a conference call with the media that he is in negotiations with other top record labels and is confident they will join."

The full story here.

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