Vevo had its launch party last night with scores of big names in the music industry from celebrities to record label execs. Lady Gaga performed, as well as several others, and in attendance was virtually a who's who of the industry. Check out some photos from the party below.

Vevo is a new music video streaming service that its founders hope will compete with MTV. The venture already has the cooperation of with three of the four major labels, and negotiations with Warner Brothers, the fourth, are ongoing.

U2 frontman Bono began the opening address of the evening: "Friends, we are gathered here today to mourn the passing of the old model that was the music business."