Vevo, the music industry’s version of Hulu, now has its own version of Providence Equity, the outside investor that took a flyer on the Web TV and movie joint venture: Abu Dhabi Media Company has purchased a stake in the company from owners Universal Music and Sony. No financials released, though I’m told the deal values the JV at $300 million.
Last month, Warner Music Group won the right to sell ads on its YouTube videos. Next step: Getting someone to sell ads on its YouTube videos, since the music label doesn’t have its own sales team. The plan: Hand those duties over to someone who’s already doing it for Veoh and other video outfits.
Time Inc. has spent the past few months convincing other publishers to join a new joint venture aimed at a market that doesn’t really exist yet–magazine-like publications to be delivered via e-readers like Amazon’s Kindle and Apple’s rumored tablet. Publishers like the idea. What will Apple and Amazon say?
What do you do when your job working for a big music label disappears? You go to work for a pirate-friendly file-sharing service that’s being sued by the big music labels.
Vevo, the “Hulu For Music Videos” site that Universal Music is launching with YouTube, just got a little more Hulu-like: Sony has signed on. I’m told that Sony will contribute cash and its library of music videos and will become an equity partner in the site, which until now has been wholly owned unit of UMG. Sony had already signed a deal with Google earlier this year to keep its music on YouTube, so I’m not sure what that means. More in a bit.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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