Vevo: A Universal (Video) Hub of a Different Type

YouTube (slash Google) and Universal Music Group are teaming up to create a music video hub called Vevo for Universal artists. Vevo's main purpose, aside from having the most terrible name of all time, is to attract advertising revenue that YouTube has not been able to pull. Artist interviews will also be on the site, which may eventually offer viewers the chance to buy concert tickets and merchandise. Universal hopes the venture will help monetize its artists, while Google hopes to attract more advertisers to YouTube.