Vevo, the online music-video jukebox, now counts an Arab media conglomerate among its backers.
Abu Dhabi Media Company, backed by the people from the United Arab Emirates, has made an undisclosed investment into Vevo, the companies announced Monday.
Universal Music Group, the largest record label, founded Vevo earlier this year. Sony Music Entertainment, second in size behind Universal, has since joined the venture. YouTube is providing technology support for the video service, which is scheduled to launch later this year.
According to previous press reports, Abu Dhabi Media Company was created by the oil-rich government of Abu Dhabi in 2007 … Read more