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Instead of watching grainy, low-quality videos, you might begin to see high-definition music videos soon on YouTube. According to Variety, Universal Music Group has begun talks with Google's YouTube to launch a music video website similar to YouTube, but with higher quality videos.
Their licensing agreement is up for revision since it expires at the end of March, but this new venture might reduce current licensing fees and increase revenue for both parts. The details of the ongoing discussions are confidential.The new site will broadcast UMG high-quality music videos under the tentative title Vevo. UMG's YouTube channel generates around 3.6 billion views, making it one of the most popular channels.
Warner Music pulled all of its music from YouTube late last year, stating unfair compensation to the label, its artists and songwriters. UMG reportedly is trying to increase the payments to their artists during these talks.
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Not to be pessimistic or anything, but why do I get the sinking feeling that these videos will come with advertising? If you go to the Universal label site, all of the videos have those annoying commercials that make watching videos on some sites such a pain in the ass. Universal is looking for new revenue streams, but this is not the way to do it...