AfterDawn: Tech news

Google mulls $50 million Vevo investment

Written by James Delahunty (Google+) @ 07 Feb 2013 5:52

Google mulls $50 million Vevo investment YouTube investment would value Vevo at $50 million.
If the negotiations are successful, Google will own around 10 percent of the music video service. The deal then, would value Vevo somewhere near half a billion dollars, according to sources cited by Bloomberg, who remain anonymous as the negotiations are not public.

Vevo was formed by Universal Music and Sony Music Entertainment. It has a contract with YouTube - owned by Google - to list Vevo music videos on the popular video hub.

Vevo counted 51.6 million unique U.S. viewers in December, according to data from ComScore. YouTube recorded about 181.7 million.

"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," Chris Dale, spokesman for Google, said in a statement to Bloomberg.

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