YouTube has also renewed its partnership with UMG that allows users to create and watch user-generated videos containing UMG content.
YouTube has still not managed to negotiate deals with other music providers which pulled their videos in December when licensing agreements for the UK could not be reached.
YouTube and Universal will share advertising revenue on YouTube and Vevo from the new content deal.
Launching later this year, YouTube will host UMG's extensive library of music videos on the new site. On YouTube, this content will be exclusively available through Vevo.com and a new Vevo channel through a Vevo-branded embedded player.
The deal comes as YouTube and the music industry looks to monetise online music content.
UMG's YouTube video channel has more than 3.5bn views, making the UMG channel the most watched on YouTube.
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