YouTube renews Vevo deal, invests in music video site
Google's YouTube has reportedly renewed its agreement with Vevo, ensuring that the music-video site's videos stay on YouTube.
As part of the deal, Google will make an investment in the joint-venture owned by Universal Music, Sony Music Entertainment, and Abu Dhabi Media Group. Terms of the investment were not revealed, but Billboard speculated the investment to be between $40 million and $50 million, in line with previous reports about a possible investment.
"We made an investment in Vevo," YouTube told Billboard, which first reported the deal. "We are excited by their future prospects and to … Read more