Google said today that it has renewed its agreement with Vevo, the music video distributor, keeping its popular programming on YouTube and preventing it from falling into the hands of its rivals. Vevo draws 50.2 million users a month to YouTube, according to comScore, making it one of the company's most important partners. The news was first reported by Billboard .
As part of the deal, YouTube is investing in the company. Terms of the agreement were not disclosed, but Billboard pegged the size of the investment at between $40 million and $50 million. "We made an investment in Vevo," YouTube said in a statement to The Verge. "We are excited by their future prospects and to provide YouTube users with the best possible music experience."
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via The Verge - All Posts http://www.theverge.com/2013/7/2/4488400/youtube-renews-vevo-deal-buys-stake-in-company-music-videos
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