"The music industry doesn't really do subtle, which is why the Vevo launch party in lower Manhattan on Dec. 8 had all the pomp and glitz of an internet launch party circa 1999.
Because three of four major labels are playing nicely in the venture, attendees got to see Bono sharing the stage with John Mayer, 50 Cent, Google CEO Eric Schmidt, Universal Music Group CEO Doug Morris, Lady Gaga and Queen Rania, just to name a few.
The difference between now and when Napster was decimating the music business is that the artists themselves fully realize what's at stake, even if they have a misplaced notion that advertising will save their ailing industry. 'Let's hope Vevo can help salvage something that used to be amazing,' Mariah Carey told the crowd.
One thing Vevo has going for it right out of the gate is quantifiable traffic. Somehow, Mr. Morris persuaded Mr. Schmidt to allow all YouTube views of Vevo videos to accrue to Vevo -- a move that will likely make it the No. 3 video site in the U.S. straight out of the gate. 'Now we have a platform, and it's our platform,' Mr. Morris said."
It'll be interesting to see how it fully unfolds in the next 6-8 months.