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Warner Music Pursues Online Video

by Tim Stevens on May 8, 2007 at 05:03 PM



With CD sales continuing to barrel roll into oblivion, record companies are scrambling to come up with new sources of revenue. Warner Music Group is certainly one of those most affected, today announcing a $27 million second-quarter loss and 400 job cuts. In hopes of stopping the cash hemorrhage, Warner has launched a new online video unit, Den of Thieves. Lead by Jesse Ignjatovic from MTV and Warner's Evan Prager, the Los Angeles-based division will focus on creating video programming to promote Warner's artists, shows and videos on sites such as YouTube and MySpace, as well as on traditional TV.

Den of Thieves represents the latest old-guard leap onto the online video bandwagon. The NBA and MLB both offer video content for download on YouTube, iTunes or their own sites. VH1's 'Acceptable TV' is both a show and a Web site that allow users to produce their own sketches in the hopes of getting them on TV. In February, Anheuser-Busch launched Bud.TV, a sketch comedy site helmed by former SNL writers. And so on, and so on.

Whether Warner's move into online video will translate into CD sales is questionable. After all, it's likely the same tech-savvy youngsters the company is targeting are the very same people that have no qualms downloading Warner's music illegally.

From 'USA Today'

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Tags: cd, download, mp3, sales, Warner Music Group, WarnerMusicGroup

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