Google’s YouTube has renewed its contract with Vevo, and taken a stake in the company. Reports suggest that with this new deal on the table that Google will get a 7% stake in Vevo for a $40-50 million investment.
YouTube said in statement, “We made an investment in Vevo” also adding ”We are excited by their future prospects and to provide YouTube users with the best possible music experience.”
This should be pretty interesting to see how the companies make use of this new investment.
