Facebook and Google are reportedly interested in acquiring a stake in the music video website Vevo. Up for grabs is an equity stake in the site, as well as an advertising deal. Vevo is said to be valued at approximately $1 billion. This tug of war over Vevo must be validating to the site. It launched in 2009, backed by the major names in the industry, including Universal Music Group, Sony Music Entertainment, and EMI Music, but with an unproven business model of creating revenue opportunities through advertising.
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Facebook, Google Vie for Vevo
Posted by: Erika Morphy June 1, 2012 06:01 PMFacebook and Google are reportedly interested in acquiring a stake in the music video website Vevo. Up for grabs is an equity stake in the site, as well as an advertising deal. Vevo is said to be valued at approximately $1 billion. This tug of war over Vevo must be validating to the site. It launched in 2009, backed by the major names in the industry, including Universal Music Group, Sony Music Entertainment, and EMI Music, but with an unproven business model of creating revenue opportunities through advertising.