Video-sharing web site YouTube is planning to add many thousands of music videos to its hugely popular online service.
The company, which launched last year and now serves more than 100m views every day, is in talks with several major record companies, including EMI and Warner Music Group, in the hope of broadening its scope and securing mainstream content to become an entertainment portal similar to web giants such as Yahoo!
YouTube currently offers films and clips that can all be viewed free of charge—and, according to the marketing intelligence firm Hitwise, the site holds around 43% of the online video market.
The business model for new and archive music content is yet to be undecided, though there will be a charge to users that will be either based on a pay-per-download system or a subscription service. Users will be able to write reviews for videos that they add to their profiles.
YouTube hopes to host "every music video ever created" within the next 18 months, said co-founder Steve Chen. He added: "We're trying to bring in as much of this content as we can on to the site".
YouTube's latest announcement follows news earlier this month that Google has entered into a deal with Viacom that will see the web search leader distribute the media conglomerate's MTV Networks videos over niche web sites and weblogs popular with teens and young adults.
Meanwhile in the US, YouTube has been named among Time magazine's 'coolest' web sites, along with social networking site MySpace, which offers video content among its features.
Lovelace Consulting | 18.08.2006