VEVO CEO Rio Caraeff
Vevo CEO Rio Caraeff
Facebook is entertaining a business relationship with music video service Vevo in which it would replace YouTube as host of the company's videos, reports Cnet.

The companies have met to discuss a potential arrangement at least twice, most recently within the past two weeks.

Facebook would stream Vevo's content, sell ads against it, and share the profits with Vevo.

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.

Cnet indicates that it's still too soon to count out Google -- label partnerships with YouTube have been very profitable and that licensing negotiations to allow people to use music from top labels in their videos have been going well.

Besides, even if Facebook and Vevo decide to partner up, there's still a year left on YouTube's contract with Vevo.