Two recent analyses highlighted an increasingly heated battle over the dominant player in music video streaming.
Music video is streaming music’s killer app. According to MIDiA’s latest consumer survey, 45% of consumers watch music videos on YouTube or Vevo every month, while 25% of consumers use YouTube for music every week (more than any of the streaming audio services). So what YouTube and Vevo do has real impact.
The world’s largest social network has redoubled its efforts to reach a broad accord with the industry, according to interviews with negotiators at labels, music publishers and trade associations. A deal would govern user-generated videos that include songs and potentially pave the way for Facebook to obtain more professional videos from the labels themselves.
With both companies being increasingly cast a media companies, this is a key confrontation. Music is a key driver for online video and in the case of YouTube, the stats are very telling.