Monday, October 19, 2009

Vevo -- Music Vids Served Up YouTube Style -- Adds a New Chef

Veoh, Tivo, Vevo! Veni, Vidi Vici?

Universal Music Group (UMG) and Sony Music Group (SMG) at least certainly hope to come, to see, to conquer. Conquer the online music video space, that is.

Vevo -- which sounds awfully like a combination of Veoh (an online video sharing site that UMG crippled with litigation) and Tivo (also video on demand -- go figure!), sprinkled in with a dash of the music group Devo -- is the soon-to-be-launched online music video sharing site from those two former music powerhouses. Think of Vevo as Youtube -- but exclusively featuring music videos (rather than user generated content or UGC). The interesting thing is that Vevo will use Youtube as its primary distribution platform in a deal that gives Youtube, of course, more premium content to monetize.

And, Vevo just added a new major investor to its party -- Abu Dhabi Media Company -- in a deal that is reported to value Vevo at $300 million.