Stop The Music -- Facebook Wooing Key YouTube Partner Vevo
With millions of viewers at stake, music-video service Vevo is reportedly considering cutting ties with YouTube in favor of a deal with Facebook.
Sources tell CNet that the discussions are very preliminary, and noted that there's still another year remaining on Vevo's contract with YouTube. That said, meetings have apparently taken place between Vevo and Facebook at least twice, the most recently going down less than two weeks ago.
“Facebook is interested in a similar arrangement to the one Vevo has now with Google's YouTube,” CNet reports. “Facebook would stream Vevo's music videos and the two companies would sell ads and share in the profits.”
Jokes Gizmodo: “Because we all know how well it works out when social networks become a place for musicians to hang out (*cough* MySpace).”
In all seriousness, “Vevo could be a lucrative partner for Facebook in its bid to grow advertising on the site,” writes paidContent, while such a deal “would also follow a pattern of moves that Facebook is making to increase user engagement.”
Indeed, a Vevo deal would prove a huge boon to Facebook’s content offerings -- and music in particular -- while concomitantly hitting YouTube where it hurts. Indeed, Vevo was YouTube’s top partner site in December with 53.5 million viewers, and trailed by Warner Music with 31.7 million viewers.
Agrees Business Insider: “One of Facebook's goals is to keep visitors on the site longer, and if it were to offer free music listening in the form of streaming Vevo videos, it would be a step in the right direction.”
In September, Facebook Music was launched, a service that enables users to share information about their listening habits and tastes in real time. Facebook also just expanded on that effort with a new music-sharing feature.
Regarding Vevo, The Next Web writes: “The music video service finds itself in a decent position; it can stay with YouTube and reap the rewards from the world’s biggest video service or it can partner with Facebook and enjoy the advantages of streaming to over 700 million users.”