YouTube has renewed the deal with Vevo, confirms Google. The search giant said the videos of Vevo will stay with YouTube as before.
Apart from this, Google is also learned to be making investment in joint-venture owned by Sony Music Entertainment, Abu Dhabi Media Group and Universal Music. As of now the investment terms are not revealed, but Billboard reports it may be somewhere between $40 million and $50 million.
In a statement Google said they are excited by their future prospects and promises to offer best possible music experience to YouTube users.
For sometime it has been widely speculated Vevo was seeking for cash and Google might be providing it.
Last year in May The New York Post reported the Web giant was looking for acquiring an equity stake in Vevo.
For Further Reading:
- iOS 6 to lack YouTube and Google Maps
- YouTube app new version for Google TV much improved says Google
- Google releases new YouTube app for iPod touch, iPhone
- Google Takeout Enables You To Download YouTube Videos In Its Original Format
- German court orders Google’s YouTube to filter video uploads for copyright abuse
- Google Music App Launched For Google TV
- Google Confirms Loopholes In Android OS
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