Via: Financial Times

Video may have killed the radio star but some of the music industry’s most senior executives lined up on Tuesday night to declare that online video could be the salvation for stars and labels after a decade of digital mis-steps.

The chief executives of Universal Music, Sony Music and EMI Music joined forces with Eric Schmidt, chairman and chief executive of Google, to hail the launch of Vevo, their online music video joint venture, as the best thing for the business since MTV began in 1981.

Despite some limitations, including a number of initial technical bugs and no high definition video until next year, executives and artists lavished praise on what they see as a promising venture. [Read More]