'The Secret World of Sam King' will tell the story of a Universal employee who leaves to set up her own record label.
It will feature Universal artists such as Razorlight and The Fratellis.
Bebo is reportedly creating the show as part of a broader effort to strengthen its music offering.
Sony Ericsson will sponsor the first few episodes of the new series. As part of the deal, the phone company's products will be integrated into the plot.