Universal Music Group and YouTube have officially announced the launch of a joint music video service Vevo.
The two will share any advertising revenues generated by the service which will feature full-length, high quality music, artist and user generated videos from Universal.
Universal is keen to use Google’s video technology to showcase its content and attract ad revenues.
The service is expected to launch in the next few months.
Doug Morris, CEO of Universal Music Group, said Vevo would be well placed to service advertisers, artists and fans.
“We believe that at launch, Vevo will already have more traffic than any other music video site in the US and in the world,” he added. “And this traffic represents the most sought after demographic for advertisers, especially as advertising dollars continue their shift from old media to new.”
The Vevo deal comes despite Universal and its rivals’ content remaining absent from YouTube following a spat between the music sharing site and songwriters collections agency PRS for Music.
This story first appeared on newmediaage.co.uk