Vevo, the online premium music video servcie from Sony and Universal has announced that the Abu Dhabi Media Company will be an investor in the joint venture.
The Abu Dhabi Media Company will join Sony Music Entertainment and Universal Music Group as founding shareholders in Vevo.
“It’s an honor to bring in such a solid investment partner, and we’re confident ADMC has the vision and experience to help guide us through the many opportunities that lay ahead of us,” the company said in a statetement.
President & CEO Rio Caraeff said, “It’s a credit to the music community, and to the global opportunity that Vevo represents, that we have been able to attract such a solid investment partner with the vision and track record of Abu Dhabi Media Company.”
This is the first of several announcements leading up to the launch of Vevo.com and Vevo on YouTube before the end of this year.