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Major record labels are now seriously considering to have a joint-venture to create a music video service in contrast with Hulu’s service. Word is that Warner, Sony BMG, EMI and Universal Music Group are in early phases of talks to have a separate music video service than YouTube, as the Google service is asking for more revenue share now.

This effort would be seen sooner now that Warner Music Group’s videos were taken off from YouTube, following a failed licensing negotiation.