You have to hand it to Universal Music Group: when its fellow record companies are just trying to stay afloat, it’s planning a possible new venture: a music site that’s exactly like Hulu.
See, Universal can’t stomach that YouTube has its entire backlog of videos for free, so they want to set up an ad-supported channel that would have Universal music videos on it. They would then bring in other music labels, possibly plan original programming, and then get some media company to manage it (maybe like the fellas over at YouTube?).
Universal’s willingness to start the site seems to dependant on whether or not it re-ups its contract with Google (which owns YouTube) at the end of this year. [Paid Content]