Vevo videos to remain on YouTube as Google buys a stake in the company
If you’ve ever gone looking for music on YouTube you’ve probably run across Vevo, the premium (and legitimate) source of music videos and other music related content on YouTube. Actually a partner of Google, Vevo supplies the popular content to YouTube as the result of a specialized deal between Google and Vevo.
Now it appears that Google has decided that things have gone well enough that they have actually purchased a stake in Vevo’s operations, which is believed to be worth somewhere between $40 million and $50 million. In a statement given to The Verge, Google claims that the decision was made in order to “provide YouTube users with the best possible music experience.”
Most interestingly, rumors had recently been abound that Vevo had been considering a strategic partnership with popular social network Facebook, which would have taken all of the music content YouTube finds so valuable to a competing Facebook service. Now sources are suggesting that Google’s decision to purchase a stake in Vevo came as a direct result of Vevo’s threat to pull out of YouTube.
So fear not, music lovers – YouTube will remain the source of hundreds of thousands of your favorite music content thanks to this renewed Vevo deal, and Google is even teasing that there’s some “promising future prospects” in the works.
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