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Music industry, Music media

Universal gets into bed with Youtube thanks to Bono

U2’s Bono has brokered a deal with Youtube and Universal Music Group to show music content on Youtube and split the revenue from advertising.

• YouTube will create a dedicated channel on its site, to be called Vevo, where users can watch music videos from Taylor Swift, Kanye West, Weezer and other Universal artists. Later this year, Universal and YouTube will debut a separate online music video site, Vevo.com, where viewers can watch music videos from Universal’s library. YouTube will provide the underlying technology, Universal will furnish the content, and the partners will split the advertising revenue. “We have been searching for a way to work with the rights holders, which really does drive more — let’s be blunt — more revenue,” said Google Chief Executive Eric Schmidt.

[LA Times]

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Tags: BonoUniversal Music GroupYoutube

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