“Music-video company Vevo LLC is migrating from YouTube to the boob tube in a back-to-the-future attempt to recreate something akin to the original MTV,” Hannah Karp reports for The Wall Street Journal. “But unlike the music television of yore, the new incarnation of Vevo is supposed to generate revenue for the record companies that create the videos.”
“Vevo, a joint venture between Sony Corp.’s Sony Music Entertainment and Vivendi SA’s Universal Music Group, has signed deals to deliver on-demand music videos—plus a new channel of original, 24-hour-a-day programming—via Apple TV set-top boxes and Samsung television sets,” Karp reports. “Apple Inc. could release the Vevo Apple TV app as soon as this week, according to people familiar with the matter, while Samsung Electronics Co.’s launch is likely a few weeks away.”
Karp reports, “Google bought a 10% stake in Vevo last month to cement its status as Vevo’s distribution partner for the next five-plus years, as its three-year contract approached expiration. Abu Dhabi Media Group also owns a stake in Vevo, which it bought before the website launched in 2009.”
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