Warner Music Group has announced plans to launch its video archive online free to fans. The label, which is home to Madonna and the Red Hot Chili Peppers will work with digital services provider Premium TV to develop "digital hubs" (online TV sites) that are organized by genre, label or artist. They will be funded primarily by advertising. Music companies are looking for ways to generate revenue while the demand for video content online continues to rise.
Warner said the platforms would show previously unseen footage and would eventually be available in different languages. While advertising will drive revenue, users can also download videos for an additional fee. "This major new proposition in online TV represents a key step in our continued transformation," Patrick Vien, chairman and chief executive of Warner Music International said.
He added: "These unique digital hubs will further enable us to monetize our content across the myriad of ever-developing ways that people enjoy music."
Source:
Reuters
He added: "These unique digital hubs will further enable us to monetize our content across the myriad of ever-developing ways that people enjoy music."
Source:
Reuters
