Vevo is often referred to as the “Hulu of music” and it appears the company’s JV partners Universal Music Group and Sony Music are taking steps to create programming that could directly compete with Hulu.
Reuters reports that Vevo is in talks with CBS and NBC to produce original music shows for the web. The shows could potentially air on TV as well.
Vevo, scheduled to launch in December, should be looking beyond music videos and interviews with artists when building its web audience. After all, there are many places to find interviews and music videos online. So if Universal and Sony are going to create a business the size of Hulu — with the potential to generate revenue in the hundreds of millions — they are going to have to make Vevo the place to go for original and proprietary music programming.
While the labels are smart to partner with proven professionals in the TV production business, it should also look to less expensive — but still just as original — programming to offer its audience. For example, it could embed videographers in a band’s tour bus for “rockumentary” like Webisodes or air exclusive live concerts, which Hulu recently started doing with its Dave Matthews broadcast.
Still, we’re encouraged that it appears Vevo will not just be Universal and Sony’s YouTube pages, spun off from the popular video site. If it plays its cards right it could become the place for online original music programming, much like News Corp.’s MySpace, Yahoo Music, AOL Music, and Viacom’s MTV.com are aiming to be.
Reports surfaced recently that Vevo was looking to raise money at a $300 million valuation, some of which could go to financing these original productions.
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