YouTube, Universal Talk Music Video Premium Website
YouTube and Universal looking to make Hulu-like site for music videos
The internet is big business for many companies with ad revenues from traditional outlets like newspapers and magazines finding their way into the coffers of online companies. Record companies are working with massive websites like YouTube to grab their share of the revenue generated by content they own.
YouTube, the record industry, and Hollywood have a long history of legal battles and contract negotiations that have at times had certain music videos and other content being pulled from the popular YouTube website. YouTube currently has contracts with most major record labels that allow it to show music videos by the labels artists in exchange for share of the ad revenue generated by the videos and other fees.
YouTube and Universal Music Group are now reportedly in talks to possibly start a new music video site that would be a separate and premium location for music videos. Universal is the largest music company in the world and if negotiations between it and YouTube succeed we could see the other major music labels follow suit with music sites of their own.
Read more: dailytech.com