The UMG/YouTube venture (see Top Story) is being hailed as “a Hulu for music videos” – Hulu being the streaming TV website set up by several US broadcasters. But we’ve already had one music startup claiming to be just that – PluggedIn, which launched in April 2008. However, it didn’t go so well: the company is shutting its doors after failing to negotiate a new $2.5 million funding round. It offered more than 11,000 licensed HD music videos with social features wrapped around them. Co-founder Brett O’Brien tells TechCrunch that the company is now looking for buyers of its technology and staff for around $3 million. Perhaps a major label may be interested…

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