YouTube and Universal to Create New Music Site

YouTube, which has become the most popular video site on the internet is joining forces with Universal Music Group, the world's largest company to bring the public a brand new site which for music videos and music related content. The new site will be called Vevo, and it will bring professionally made videos to the viewing public in order to create more money through advertising. Universal artists will post their videos on both Vevo.com and YouTube's Vevo channel. The companies will share advertising revenue from both websites. Vevo will make its way onto the web later this year. In the meantime, both companies are trying to persuade more major labels to join them.