Earlier in the week we brought you news of a growing conflict between Megaupload and Universal Music Group. Late last week Megaupload posted a video that featured a wide array of celebrities singing the praises of the online data locker …

Online music video service Vevo, has reached a content agreement with EMI Music on the eve before its Tuesday launch.

EMI joins Universal Music Group and Sony Music Entertainment in what is being called the "Hulu for music videos." So far Vevo has not reached a licensing agreement with Warner Music Group.

Vevo, the highly anticipated music video site from YouTube, Universal, and Sony, now has an official release date. Vevo was previously announced to be launching in December, but now the date of December 8th has been set.

Vevo is striving to be the Hulu for music videos. Watch this guy talking about the launch party (not the woman pictured):

Disney has announced it has acquired a stake in Hulu that is thought to be as high as 30% according to the folks over at Mashable. Disney has now joined NBC Universal and News Corp. in this venture.

The momentum this gives the video site is very real as it looks to jump on a position in the market that perhaps YouTube may be too late to the game on. YouTube has just started to strike deals with the major media producers and their lineup of available programs to watch is not as impressive as Hulu’s.

Update: YouTube has officially announced Vevo.

Original article 03/05: The number one video site in the US and the world’s largest music label are said to be cooking up a deal and a new service. YouTube and Universal Music Group are reportedly in talks to create a premium online music video service.

There are some big changes happening with YouTube. You’ve probably read recently that YouTube has teamed up with Universal on a site called Vevo that is supposedly going to be the Hulu of music videos.