Today Vevo announced an investment from the Abu Dhabi Media Company, who now joins Sony Music Entertainment and Universal Music Group as founding shareholders in VEVO. According to Vevo “It’s an honor to bring in such a solid investment partner”. Vevo is confident that ADMC has the vision and experience to help guide them through the many opportunities that lay ahead of Vevo. Vevo’s President & CEO Rio Caraeff said “It’s a credit to the music community, and to the global opportunity that VEVO represents, that we have been able to attract such a solid investment partner with the vision and track record of Abu Dhabi Media Company.”
Posts Tagged ‘sony’
Abu Dhabi Media Company invests in Vevo
Tuesday, October 20th, 2009Vevo Launch Date and Partner News
Tuesday, September 8th, 2009There hasn’t been a lot of Vevo news lately, but the latest news we have is that Vevo will be launched in December 2009, which means the site is still about 4 months ahead. We don’t know yet when the beta will be launched, we hope it will be sooner. We have also heard that Vevo is now talking to CBS Corp and NBC to license and develop special shows for the Vevo site. Vevo already has a content and equity partnership deal with Sony Music Entertainment and Vevo now also is about to close deals with Warner Music Group and EMI Group. A deal with Warner will probably be delayed because of an ongoing dispute with YouTube over financial terms. All the partners intend for Vevo to move beyond just being a website for music videos and artist interviews. They also hope to develop music-related content with programing partners like CBS, NBC, ABC and Fox.
Sony signs on to Vevo!
Monday, June 8th, 2009Vevo just got a little more Hulu-like! Sony has now announced that it has signed on to the Vevo project. This will make the Vevo site, that Universal Music is launching with YouTube, be more like the ”Hulu For Music Videos”. Besides cash, Sony will contribute its music video library and it will also become an equity partner in the Vevo site.
You can read the official press release here.