Universal Music Group (UMG), the world’s leading music company and YouTube, the Google-owned video-sharing site, are working together to launch VEVO, a music and video entertainment service that will feature UMG's premium video content.
In addition to VEVO, YouTube has renewed and extended its successful partnership with UMG that allows users to continue creating and watching user-generated videos containing UMG sound recordings and Universal Music Publishing Group's compositions on YouTube through various territories around the world. The two companies will also share advertising revenue on YouTube and VEVO.
VEVO will be a premium online music video hub built for consumers, advertisers and content owners that will blend UMG’s catalogue of top artists and content with YouTube's video technology and user community. YouTube will provide the technology infrastructure that will power VEVO and host UM'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.