YouTube & Universal Discuss New Music Site

YouTube and Universal Music Group are discussing the possibility of creating a new music video platform called Vivo. The site will allow YouTube to finally make serious cash by selling more expensive ads and highlight videos from Universal.

The deal goes beyond YouTube’s existing licensing arrangements with three of the four major record labels, Universal, EMI and Sony Music, which just re-upped. In fact, it seems more like the “Hulu for music videos” project long-rumored to be in the works.

Of course, nothing is final until the official announcement, so nothing’s set in stone yet. No, not even the name. Also, it’s unknown at this time whether YouTube is in talks with other studios to discuss the benefits of a deal. If it pushes through, you can expect a little rivalry between the upstart site and MTV.

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