News that Vevo renewed its agreement with YouTube shouldn't come as a surprise. YouTube’s size makes it a sensible, smart distribution partner for Vevo’s videos. 

In May, Google sites (primarily YouTube) streamed nearly 14 billion videos in the United States, according to comScore. That’s more than 19 times the 727 million videos streamed by Facebook and nearly 17 times the 839 million videos streamed by AOL. Vevo streamed 591 million. 

YouTube has a strong presence outside of America. According to YouTube's statistics page, 70% of its traffic comes from outside the United States and the service is localized in 56 countries (in 61 languages). Vevo currently operates in just 12 countries. But if there's a country Vevo wants to target, chances are YouTube is already there. 

Last year there were numerous reports that Vevo was considering leaving YouTube for Facebook. I never put much stock in the idea. Vevo has a valuable, in-demand collection of videos from the most popular artists in the world. YouTube could ill afford to lose Vevo's catalog. Besides, Vevo syndicates its content to many places, including AOL, BET and Viacom properties as MTV, VH1 and CMT.

Two important events have added to YouTube's role as a vital one-stop-shop for online video since those reports surfaced last year. In February, Billboard started counting user-generated videos with authorized video in the formula that generates the Hot 100 chart. Thus, YouTube is the destination for both official videos and the user-generated videos that occasionally create a viral hit. 

Then in May, YouTube began offering subscriptions from channel partners with content ranging from music documentaries to motorcycle maintenance. Although YouTube is a far cry from Netflix in terms of subscription revenue, this new product feature underscores the value of the platform. No other service or property can match YouTube in visitors or views. As it grows and improves, YouTube could put more distance between itself and its competition.