Vevo In Talks To Move Away From YouTube & Head Over To Facebook
The music video website Vevo, the number one most visited music site in the U.S., has been in talks with Facebook about potentially moving their content over to the social network according to a CNET report. VEVO is the joint venture of Sony Music Entertainment, Universal Music Group, and Abu Dhabi Media that offers content from 3 of the “big 4” publishers (includes EMI licencing). Currently VEVO leverages YouTube to display their content, with both entities sharing the advertising revenue. There is still one year remaining on the Vevo’s contract with YouTube.
According to CNET Facebook is interested in pursuing a similar agreement to the current YouTube/Vevo deal and have met at least twice over the past two weeks. With the newly launched Facebook apps and “listen with” options, Facebook could be a viable partner to continue Vevo’s dominance in the music space. It would be a huge win if Facebook could steal away Vevo from Google as it would help keep users on Facebook longer while removing content that could help Google+.
For more information see the full CNET article.