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Sony Music Entertainment joined YouTube and Universal Music Group to develop an online music video service called Vevo. The all-new music video site is expected to be launched by the last part of the current year. Some of the acts represented by Sony and Universal Music include Amy Winehouse, U2, Bruce Springsteen, Duffy, Alicia Keys, Beyonce, Eminem, AC/DC, Kelly Clarkson, Lady Gaga, Carrie Underwood, Mariah Carey, Akon, The Killers, Mary J Blige, Black Eyed Peas, and Justin Timberlake.
According to sources in music industry, negotiations are on to rope in Warner Music and EMI. The new music video site Vevo has been planned by Universal Music CEO Doug Morris. In addition to traditional music videos, Vevo will feature reality shows, video blogs, and other content built around artists. According to Sony Music Entertainment CEO Rolf Schmidt-Holz, with the help of Vevo the companies aim to offer music videos and other premium video content from some of the world's greatest artists.
Music videos are the most popular content on YouTube. The labels will supply the content for Vevo while YouTube will look after all the back-end responsibilities. Former Universal Music executive, Rio Caraeffas is expected to be named as the president of Vevo.
