Doug Morris, Chairman & CEO Universal Music Group and Eric Schmidt, Chairman CEO of Google co-announced that UMG and YouTube are working together to launch VEVO, a music and video entertainment service that will feature UMG’s video content.
Launching later this year, VEVO will be a premium online music video hub built for consumers, advertisers and content owners that will blend UMG’s broad catalog of artists and content with YouTube’s video technology and user community. YouTube will provide the technology infrastructure that will power VEVO and host UMG’s library of music videos on the new site. On YouTube, this content will be exclusively available through VEVO.com and a new VEVO channel through a special VEVO branded embedded player.
VEVO will also serve as a syndication platform, expanding the reach of the VEVO brand. Presently, UMG’s YouTube video channel has more than 3.5 billion views, making the UMG channel the most watched on YouTube.