Following failure to reach a win-win solution with Universal Music Group, MTV has to face the fact that UMG music videos get pulled out of their online platforms, including VH1 and CMT. It means the likes of Justin Bieber, Kanye West, Lady GaGa and Eminem will not have their clips played on the websites anymore.
"For almost 30 years, we have enjoyed long and colorful partnerships with all the music labels, including UMG and their talented roster of artists," a statement from MTV read. "As the industry evolves, we continue to seek out new and innovative ways to connect artists with their fans that are mutually beneficial to everyone."
"However, during our recent discussions with Vevo, we were unable to reach a fair and equitable agreement for rights to stream UMG artists' music video content," it was further explained. "We are disappointed by this move and sincerely hope that UMG will work with us toward a fair resolution and allow their artists to once again connect with the millions of music fans who visit MTV.com, VH1.com and CMT.com every month."
Though so, UMG is confident they will still be able to "maximize revenue" for their artists through Vevo which also is also partnering with YouTube and Sony Music. Dubbed as "the web's #1 rated video network with over 49 million unique visitors monthly, dramatically eclipsing those on MTV's online properties," Vevo is hoped to attract "scores of major advertisers and tens of millions in advertising dollars."
UMG music videos reportedly start to get pulled out of MTV at the beginning of this month. But, there is hope UMG and MTV will be back as partners since Vevo, which is given the power by the record label to lead in a new licensing contract with MTV for its online videos, is "engaged in active discussions" with the network.