YouTube & Vevo Renew Deal

Youtube and Vevo announced this week that they will be renewing their agreement with each other. The agreement retains Vevo's videos on YouTube, promises Google investment in Vevo, and is reportedly worth between $40 million and $50 million. According to Billboard, Vevo plans to use the deal money to "expand its international presence and invest in creating original music-related content to augment its growing library of official music videos". Read more about the deal renewal and what it means here.