Vevo, the music video site powered by Youtube launches today. The site will feature videos from three of the four major record labels – Sony, Universal and EMI. Warner Music Group is the only one not working with Vevo, although they are working with YouTube.
Professionally produced music videos are the most popular content viewed on YouTube. Now Vevo will offer music fans music video content, along with an online music store offering music downloads, merchandise created by artists, concert tickets and more. In the future a music video subscription service, offering both short videos as well as streamed concerts is likely to be added.
Vevo has announced a pre-launch partnership with CBS Interactive and will offer extensive music programming from the vaults of the CBS Interactive Music Group’s properties including Last.fm and more than 90 CBS RADIO music stations beginning next year. “Last.fm and CBS RADIO’s stations are producing a tremendous amount of unique video content every day – from long form concerts such as the “Live on Letterman” webcast series and annual special events, to acoustic performances and one on one interviews,” says David Goodman, President of CBS Interactive Music Group. “We’re excited to be part of the next generation of music video services, and look forward to all the benefits that go along with Vevo’s massive audience and reach including increased awareness of our efforts in this space to new revenue generating opportunities.”
The combination of high quality video along with lyrics and access to lots of information on favorite artists is expected to appeal to advertisers and command top dollars. The site will launch with partnerships with AT&T, McDonalds and Mastercard.