Vevo, considered by many as the best place to see the latest music videos, is a popular staple on YouTube, but now the music video service is in talks with Facebook to make a more lucrative deal, reports said today.
Vevo has 43 million hits each month -- no mean feat for a company only in existence for two years. However, there have been disagreements with Google, namely because of clashes with record executives over icensing fees andthe rights to show music videos. For whatever reason, the entertainment industry seems leery and almost hostile to Google, but seems to embrace Facebook. Right now, however, there's still a year left to go on the Vevo-YouTube contract.
But for Vevo, it's about what makes more money and the easiest place to do business, CNET wrote, and Facebook's users stay online much longer.
Whoever Vevo partners with, the company will likely insist on maintaining a significant amount of control. Launched in 2009, Vevo offers music videos from three of the top four record companies: Universal Music Group, Sony Music Entertainment and EMI Music. YouTube helped create Vevo's back end and Vevo's videos are best known for appearing on YouTube.
With Facebook placing an emphasis on music sharing, a partnership with Vevo now makes more sense than ever, but it's unknown if Vevo is even seriously thinking of jumping ship or using this as leverage in negotiations with Google.