Vevo Lives: YouTube, Universal Announce New Music Video JV

imageRumors about a new “premium” music video site from YouTube and Universal Music Group churned out non-stop early last month, but now it’s official: UMG and YouTube plan to launch Vevo later this year.

Music videos from Universal artists will be available both on Vevo.com, as well as through a new Vevo channel on YouTube. The two companies, which will share ad revenue, expect the joint venture to be the largest music-video site in the United States upon launch.

Chris Maxcy, YouTube’s director of business development, told us that this was a “completely different” deal than the recent one it inked to carry full-length clips from Disney: “It’s a fairly deep partnership where we’re providing tech, ad sales support and access to the YouTube community.”

Maxcy said the two companies had discussed the possibility of long-form content, including original series, and the ability to sell music through Vevo, though it was “a bit early” to speculate about what those efforts might look like, or when they’d roll out. As for the timeline, he would only confirm that it was a “long term deal.”

The release is embedded after the jump.

UNIVERSAL MUSIC GROUP AND YOUTUBE TO LAUNCH REVOLUTIONARY PREMIUM MUSIC AND VIDEO SERVICE

VEVO – UMG

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