Facebook held at least two meetings with Vevo —the most recent one occurring within the last couple of weeks— to discuss moving the music video service from YouTube to the social network’s platform.
However, sources told CNET that the talks are “very preliminary,” and they mentioned there is one year remaining on Vevo’s contract with Google’s YouTube.
Vevo launched in 2009 and offers music videos from Universal Music Group, Sony Music Entertainment and EMI Music. YouTube helped launch the startup, and subsequently Vevo’s videos appear on the partner’s service, with Google and Vevo sharing advertising revenue.
Vevo features the most extensive catalog of premium music content on the Internet, and it is available in the United States, Canada and the United Kingdom through its website, mobile apps, or by way of connected televisions. The service currently powers music videos on artist profiles across Facebook, and its content is syndicates to numerous online websites, including AOL, BET, CBS Interactive Music Group, Fuse.tv and Univision. Moreover, through YouTube, Vevo is accessible in over 200 countries.
Facebook is allegedly interested in an arrangement similar to the one Vevo has in place with YouTube now, which would allow the social network to stream Vevo’s music videos with the two companies sharing profits from advertising revenue…