Facebook, Google looking to invest in Vevo

Facebook, Google looking to invest in Vevo
According to sources, it appears both Google and Facebook are looking to invest in the popular streaming music video service Vevo.

Vevo has hired the investment bank Allen and Co. to explore the possibility of having the service partially or fully sold to the highest bidder.



It is unclear whether the companies are serious, however, but there have been active talks, say the sources.

Vevo, owned by UMG, Sony Music and the Abu Dhabu Media Co. currently has 48 million unique users per month, and is valued at around $1 billion.

The service currently has an exclusive ad-sharing revenue deal with YouTube/Google that expires at the end of the year.

Written by: Andre Yoskowitz @ 1 Jun 2012 10:36
Tags
Google Facebook Vevo
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  • 5 comments
  • LordRuss

    Nothing says, "let's screw the artists some more" like a music service that hides revenue through advertising dollars. ASCAP & BMI aught to be proud (if not as richer).

    I figure Google will get the lion's share of this; seeing as they were attempting the TV thing. Movies & TV shows are obviously next on the horizon.

    Everyone should be looking over their shoulders for a rat to be sodomizing them next as Disney should be taking great offense at this kind of entertainment initiative.

    http://onlyinrussellsworld.blogspot.com

    1.6.2012 12:14 #1

  • Hopium

    fuck vevo

    1.6.2012 12:45 #2

  • JST1946

    Everytime you try to watch a video on youtube you have to look at a stupid AD by Vevo first.

    1.6.2012 15:35 #3

  • A5J4DX

    Originally posted by Hopium: fuck vevo ditto

    1.6.2012 15:40 #4

  • Notcow

    Originally posted by JST1946: Everytime you try to watch a video on youtube you have to look at a stupid AD by Vevo first. AdBlock Plus, bro. No ads for me.

    3.6.2012 03:32 #5

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