This is whatsup: Youtube is debuting a separate site for music videos, called VEVO.

What does this mean? When you search to see the music video “Hey Ma” you won’t have to filter through endless screen shots of the album cover, a capella teenage girl versions, or fat guy dances. They are compiling the real videos and listing them first.
Cool new features: Synchronized and integrated lyrics, for all you closet karaokers.
Sucks: HD isn’t coming out for a year.
Sounds like the future: AOL & CBS, as well as searches derived within YouTube, will be redirected to VEVO.
Expected: AT&T, McDonalds, Mastercard and Axe are notable introductory sponsors.
So let’s lay this out. Google owns YouTube which owns VEVO, which is now the internet center for music videos.
Apple owns LaLa…and iTunes, which is whatsup for streaming, buying and organizing music.
Even LastFm is owned by CBS, which claims they will redirect to VEVO.
Things that I know of that are musically inclined that have not yet been bought up: Pandora, Songza–which powers the Hype Machine.
The online music frontier needs to be busted open again.
Follow the developing story (and a whole lot of noise) on the #VEVO Twitter Stream: #vevo, or periodically check Ben Parr’s coverage over at Mashable.