YouTube and Universal Teaming Up to Better Monetize Video?

Google’s YouTube and Universal Music are in advanced discussions surrounding the launch of an ad-supported music video hub, according to The Wall Street Journal. The Wall Street Journal suggests the arrangement, dubbed ‘Vevo,’ could see YouTube working with the label to better exploit its video content by providing a more attractive environment for advertisers. The report, which cites “people familiar with the matter,” also states that YouTube could provide sales support and aid content distribution to third party sites.

YouTube already has licensing agreements in place with Universal, through which the label is entitled to a share of the ad revenue generated through its content. Presumably, Universal is hoping any new deal will help extract greater revenues from this content. The WSJ also suggests YouTube could be in discussions to offer a similar service to other major labels.

A Google spokesperson would not confirm or deny the report, citing the firm’s policy on not commenting on “rumor or speculation.”