Google And Facebook Square Off Over Vevo
May 31, 2012 at 3:59 AM (PT)
Are GOOGLE and FACEBOOK about to faceoff over VEVO? Yes, reports THE NEW YORK POST, "both GOOGLE CEO LARRY PAGE and FACEBOOK's MARK ZUCKERBERG are exploring an investment in VEVO as part of a broader partnership with the music-video service." The report notes, "Sources say the search giant and the social network have held talks with VEVO -- the digital equivalent of MTV -- about buying an equity stake as they each compete to land an ad pact with the venture."
VEVO is a joint venture between UNIVERSAL MUSIC GROUP and SONY MUSIC, with the ABU DHABI MEDIA CO.
VEVO's current deal with YOUTUBE expires at the end of 2012. The service was the second-most watched online video service in the U.S. with more than 51.5 million unique visitors watching an average of 62 minutes of video in JANUARY.
In MARCH (NET NEWS 3/9), VEVO revamped its website to create a more personalized, social, long-play viewing experience through FACEBOOK. Viewing VEVO after a FACEBOOK log-in allows the user to create a personalized playlist and share the videos you’ve watched with your friends on FACEBOOK.
VEVO has tapped investment bank ALLEN & CO. to explore its options, including bringing in a new investor, selling outright or going public.