Report: Vevo Talking With Warner Music Group About Adding Videos To Site
August 13, 2015 at 7:51 AM (PT)
Music video site VEVO, co-owned by UNIVERSAL MUSIC GROUP and SONY MUSIC, along with GOOGLE and the ABU DHABI MEDIA GROUP -- is reportedly in talks with WARNER MUSIC GROUP about adding WMG content to the site. THE NEW YORK POST writes, "ERIK HUGGERS, the new VEVO chief executive, has been holding a series of negotiations with WARNER MUSIC, with an additional meeting slated for next week."
The move would be a blow to YOUTUBE, which the major labels have been battling with over-payments from the GOOGLE-owned site.
The report notes, "HUGGERS is pitching WARNER MUSIC boss STEPHEN COOPER on the idea that the music industry is better off uniting when it comes to monetizing premium music videos."
A source close to talks told the paper, “No music service has survived without the content of all three majors.”