The headline of Bloomberg’s report on Vevo possibly hiring Goldman Sachs suggests it’s exploring a “sale”, while the quotes from CEO Rio Caraeff suggest more of a traditional investment for expansion. The plans for the music video service from its co-owners – Universal, Sony, Google and Abu Dhabi Media – remain somewhat unclear, then. There are certainly suitors: DreamWorks Animation, Liberty Media and AT&T / The Chernin Group are all fingered as possible buyers / investors. But here’s Caraeff: “We want to create more programming, we want to launch in more countries, we want to build better products and just generally be a lot bigger than we are. We think the time is right to bring in some new investors to help us achieve that. We’re starting that ball rolling.” The sale of such a company would normally throw its licensing deals into renegotiation, although with two of the three major labels as co-owners (and the third historically a holdout from Vevo) that’s less of a concern.

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Leave a comment

Your email address will not be published. Required fields are marked *