YouTube has renewed its agreement with Vevo.
The new deal includes a small investment in Vevo by YouTube. The stake was confirmed in a statement from the Google-owned video platform without any other details, although the Financial Times reports the investment to be somewhere around $40 million.
"We are excited by [Vevo’s] future prospects and to provide YouTube users with the best possible music experience," said the YouTube statement.
Vevo is planning to use the money to build on its ...
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