Trying for a “Do Over”

While giving away music videos to MTV created an entertainment juggernaut, it wasn’t under the control of the music industry. So, a try to get it “right” this time? YouTube and Universal Discuss Music Video Deal (pdf)

Google’s YouTube and the Universal Music Group, the world’s largest music label, are in advanced discussions over a licensing agreement that could lead to the creation of a premium site for music videos, according a person briefed on the talks.

[…] The proposed agreement represent the latest effort by YouTube, the online video service, to attract premium content that might lure higher-priced advertisements. Music videos are among the most popular content on YouTube, but they have failed to produce significant revenue for YouTube or the music labels.