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.