I’m not sure how launching a site dedicated to music videos would kill MTV, since they gave up on the format 15 years ago, but that’s YouTube’s intention with Vevo.
Universal Music Group and YouTube want to change all that. The two media giants are working on a deal that would launch a YouTube sister site that would be a music video cornucopia, according to sources cited by CNET. The intended sister site, tentatively called Vevo, would be “closely linked” with YouTube and thus attract billions of viewers, and, hopefully, big advertising dollars.
Universal is the nation’s largest recording company, and with a little help from its friends, Vevo hopes to attract all of the major labels to create a one-stop shop for music videos. Also planned are “editorial content, merchandising, Webisodes, or artist-generated videos,” sources close to the negotiations told CNET. This kind of content would truly be culling from the YouTube’s philosophy of giving audiences reams of content from a variety of sources.
MTV recently launched mtvmusic.com, but all they did was put up a website, slap some advertising on it and package their videos. It was pretty lame. I’m not even sure anyone turns to MTV, first and foremost, for music videos. Or if anyone even cares about them as a marketing gimmick.
Still, Vevo has Google dollars behind it, which means it’s chances of success are pretty high.