Google MTV: youtube is planning website to provide music videos

MTV was a success two decades ago with the formula of offering music videos to the masses of young listeners. Now it seems that Google wants to repeat the dose, but using the Internet, and particularly the structure of youtube to do the distribution.
According to an announcement, Google is partnering with Universal to provide music videos on a new website, vevo.com

The web site vevo.com is right now showing just a simple logo, and announcing that vevo means "1. music, 2. videos, 3. you". That is, it is using the idea of iteraction with music in the same way that youtube does for home made videos.