Google and Universal to partner on music video website

The Universal Music Group and Google are getting together to start a music video website, called Vevo.

Reports are that they’ll share ad revenues, which implies that they will be monetizing the service via advertising and not charging viewers to watch the videos. However, it’s not clear yet. Chances are that’s how it will roll out, b/c by now, most of these companies understand that there are few things that Web surfers are willing to pong up for.

Universal is the largest of the top 4 record companies and of course, Google owns YouTube and Vevo is but another spin-off of YouTube.