Vevo is a music video and entertainment website. It is owned by Sony Music Entertainment, Universal Music Group and Abu Dhabi Media Company. The service was launched officially on 8 December 2009. The video hosting for Vevo is provided by YouTube, with Google and Vevo sharing the advertising revenue. Vevo offers music videos from three of the four major record labels, Universal Music Group, Sony Music Entertainment and EMI
One of the reasons cited for the launch of Vevo is the competition that music videos have in the form of YouTube. Warner Music Group apparently removed its content from YouTube in March 2009 for this reason, but is said to be considering hosting its content on Vevo. The concept for the site is described as being a Hulu for music videos,[3] with the goal being to attract more high-end advertisers. It is believed that some advertisers are ambivalent to hosting advertising on the YouTube site alongside user-generated video. In the future, the site could host other types of premium content.
Universal acquired the domain name vevo.com on 20 November 2008. Sony Music Entertainment reached a deal to add its content to the site in June 2009. On 18 November 2009, Vevo announced that the service would be launched at a party in New York on 8 December.
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