EMI Nearing Deal With VEVO
December 4, 2009 at 2:42 PM (PT)
EMI GROUP, LTD. is reportedly close to a revenue-sharing agreement with Vevo, reports BLOOMBERG. Sources say EMI won’t hold an equity stake in the venture.
EMI will supply VEVO with music videos and will share the revenue from advertisements shown with the clips. Terms for the licensing have yet to be disclosed; the deal is expected to be announced as soon as next week.