YouTube said to be investing cash in Vevo
Although Google's video site has supposedly courted Vevo before, rumor has it that it now wants a stake.
Word has it that YouTube is looking to throw some cash in the direction of the music video site Vevo, according to AllThingsD. If these rumors are true, it shows that YouTube is increasingly moving toward the content market.
YouTube was supposedly courting Vevo last May and is now reportedly ready to make an investment, according to AllThingsD. If indeed the video giant does partner with Vevo, the way consumers view content on the site will supposedly stay the same -- which means watching big label music videos for free.
Vevo was tallied as the third most-watched video site in the U.S. last May, with 49.5 million viewers per month, according to ComScore. No. 1 was Google, with 157.7 million viewers, largely through its YouTube operation, and second was Yahoo. YouTube helped create Vevo's back end, and Vevo's videos are best known for appearing on YouTube.
According to AllThingsD, the investment is reportedly slated to be more than $35 million.
Despite the rumors of a deal, nothing is for certain just yet. When contacted for comment, a YouTube spokesperson told CNET: "While we don't comment on individual negotiations, we always hope to renew our relationships with valuable partners so we can continue to provide YouTube users with the best possible music experience."
Updated, January 17 at 12:05 p.m. PT with comment from YouTube spokesperson.
Correction, January 17 at 12:05 p.m. PT: The story incorrectly stated that YouTube had previously invested in Vevo. It was corrected to state that YouTube has only explored the possibility of an investment in the past.