whats known and unknown

YouTube Confirms Renewed VEVO Deal, Takes Stake In Company

on July 2, 2013


YouTube confirmed that it has renewed its deal with music video distributor VEVO. Not only does the deal allow YouTube to keep VEVO’s videos on its site, but it also requires Google to invest in VEVO. Though the terms of the deal have not been disclosed, Billboard estimated in February that it is worth between $40 million to $50 million and would give Google a 7 percent stake in VEVO.

“We made an investment in VEVO,” YouTube said in a statement. “We are excited by their future prospects and to provide YouTube users with the best possible music experience.”

The investment is important for VEVO as it continues to build its international presence. The company’s April launch in the Netherlands brought the total number of countries it operates in to 12, including the U.S., Australia, Brazil, Canada, France, Ireland, Italy, New Zealand, Spain and the U.K. VEVO has also been…

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