Vevo.com, the only music video network in partnership with Youtube, finally launched. The website will carry music videos from 3 of the 4 major music labels, Universal Music Group, Sony Music and EMI. All parties involved is hoping that Vevo will be the next MTV, but for the digital age. We're hoping they mean the original MTV because the MTV today plays less music videos if at all.
Launched on Tuesday, Vevo offers music from both Universal and Sony, as well as EMI Music, and contains programing from CBS radio stations and Last.fm, both owned by CBS Corp. In all about 30,000 videos are available. The idea is to create an MTV for the digital age, a music site where all the latest and archived videos can be found. It's a business model similar to that of Hulu, the popular TV and movie site.Vevo's debut comes as music companies are losing revenue and profits at a rapid tick due to the combined impact of falling sales of CDs, online piracy and evolving methods fans discover new music.
