So, after the hassles that YouTube have had with PRS Music in the UK, what comes along to make the music industry appear even more bewildering? Why, it’s a new music and video entertainment service from Universal Music and YouTube, with both parties sharing advertising revenue.
Apparently these two are going to join forces to form something called Vevo, which like all such dead-end ventures will launch “later this year.” Vevo is the only place where Universal (and possibly other record companies) will showcase their official videos.
Woah. How did that strategy get past the notepad-in-the-bedroom stage? Universal is relying on significant numbers of YouTube users to actively visit another site in order to watch their videos and hoping that everyone else looking online for them will end up at Vevo.
Hands up anyone who visits official major label websites? Yup. Exactly. This exclusivity could wreck major artists’ careers given that increasing numbers of people are watching videos online rather than on television. As I’ve said before, videos are promotional devices - the idea is to have them everywhere and easily accessible. Once again, Universal is trying to grab revenue where ever they can find it as compensation for their long term incompetence.
“This exclusivity could wreck major artists’ careers” - let it, I say. I feel like boycotting various artists and record companies (not that I have ever bought a U2 record). Like you said, videos are promo tools. The idea of getting revenue from it is just uninspired. Alas, record companies seem to be digging their own graves deeper and deeper. Let them die I say.
[...] other record label YouTube news, I stumbled upon this story while visiting other enjoyable sites - Universal’s made a partnership with YouTube to synergize cross media paradigms or something [...]