VEVO distributes music videos and operates as one of YouTube’s largest channel partners. The company is expanding internationally—its April launch in the Netherlands brought its presence to 12 countries—and is broadening its product set beyond music videos to mobile and TV apps including iOS, Android, Windows Phone Xbox and VEVO TV. VEVO was the top channel partner on YouTube with 50.2 million unique views, according to comScore. Ownership is held by Universal Music Group, Sony Music Entertainment and Abu Dhabi Media Group. Prior to the renewed deal VEVO’s contract with YouTube ended in April and the companies negotiated the split of ad revenue from VEVO’s video stream. The renewed agreement includes an investment by Google/YouTube tied to continued distribution on YouTube. VEVO is a music-video destination and syndication network designed to leverage YouTube’s massive audience to showcase top-tier music videos. It was formed as a joint venture between Universal Music Group and Sony Music Entertainment and will share revenue with YouTube as its primary distribution platform. The service is slated to launch in the U.S. and Canada next December. VEVO has announced a strategic investment from Abu Dhabi Media Company (ADMC), which becomes a founding shareholder; specifics of the deal remain under cover, though reports suggest a valuation near $300 million. Warner Music and EMI have not joined the service. ADMC is a government-owned Abu Dhabi media conglomerate created in June 2007 that owns television, radio and print assets and has numerous global partnerships; its leadership said the stake supports expanding its global digital-media presence.

Total raised

$40M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2013