Sad news for those of you who still like to watch MTV for the music videos and not Jersey Shore reruns. The network has failed to reach an agreement with Vevo for the rights of Universal Music Group's Web music videos.
That means no more big artists like U2, Amy Winehouse, and even bigger—Lady Gaga. "MTVN has been unwilling to negotiate a fair syndication deal with Vevo to carry our artists' videos and consequently our videos will not be shown on their online properties," a UMG spokesman said.
"During our recent discussions with Vevo, we were unable to reach a fair and equitable agreement for rights to stream UMG artists' music video," MTV said in a statement. "As a result, UMG has elected to pull their music videos from our Web sites. We are disappointed by this move and sincerely hope that UMG will work with us toward a fair resolution."
Seems like MTV is the one to lose. Just because the network has become more popular recently for their reality shows doesn’t mean it still won’t take a hit!