I read recently in both Gizmodo and TechCrunch now of the upcoming launch of Vevo,  a site billed as the ‘premium online music hub built for consumers, advertisers, and content owners..’. The site is a collaboration between Universal Music Group and YouTube and is expected to launch later this year.  The launch of the site will feature UMG’s catalog of music videos powered by YouTube’s technology. The two companies will share advertising revenue generated by the site. Reportedly, deals with other labels are in the works.

Why launch a portal for music videos when you can essentially get them for free now on YouTube? It’s a question many are asking, but I suspect Google plans to change the game a bit on music content.  I highly doubt the site will just stream videos.  I’m sure it will be community driven and designed to separate the YouTube hack from the professional, high-quality VEVO content.  So no more scrolling through bogus, homemade videos to find the content you’re looking for.  Yeah! Considering ad revenues on music video content is an area that UMG actually made money, the venture makes sense. Labels need to figure out somewhat to make money these days, don’t they?