Universal Music has yet another DIY plan – this time it’s mulling the launch of its very own music video portal, similar to what broadcaster NBC has done with Hulu.
The music video website would offer music videos, interviews and all manner of artist-focused videos. The world’s largest music company is also keen to carry music videos from other labels too.
The move is seen as a twin strategic response to the success of Apple’s iTunes for music videos, and as a likely element to the label’s upcoming contract renegotiation with YouTube, though the label reportedly has no problem with its existing deal with the online video portal.
The main focus for the label appears to be to generate more income from the music videos it owns. (Interstingly, for many bands, contractual clauses dictate that while the music belongs to them, the video belongs to the label, so labels can make mucho money using the videos, while giving artists less.)
Universal’s channel on YouTube has generated over 2.6 billion views over the past year. The company was the first label to insist that websites provide compensation for streaming its music videos.