YouTube renewed its partnership with Vevo, responsible for some of the largest audiences on the Google video site.
It was not revealed how much YouTube will pay to use Vevo content, but Billboard talks about a deal between $ 40 million and $ 50 million.
What is officially known is that the format of the partnership will remain the same as that signed in 2009, with the two companies sharing the advertising revenue collected from music videos.
The original agreement, according to Reuters, expired in December, but there was a temporary renewal to discuss new terms.
As a joint venture between Sony Music Entertainment, Universal Music Group and Abu Dhabi Media, Vevo controls the rights to video clips of today’s top artists.
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