Google and Universal Music have struck a deal to start a new website called Vevo. It would be a YouTube spinoff of sorts, using YouTube's technology to host a plethora of music videos from Universal artists. The two companies would split the profits.

The plan is to launch it this year, and both parties have said that they expect it to have the highest traffic of any music video site immediately at launch. That's a lofty aspiration, of course, but given the figures behind it, it might not be unrealistic. Universal Music is the largest of the music labels, so it has a vast library. Word is that the dealmakers are also talking to other labels to bring them on board.

You might recall that YouTube has been licensing a plethora of content to try to class up and expand beyond the user-generated schtick. Just a few days ago it announced a deal with Sony to host feature films from that studio's collection. Is that what you really want from YouTube though?

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