YouTube is reportedly considering increasing its stake in VEVO, according to AllThingsD. YouTube already owns a small share of the digital music video portal, and could invest over $35 million more in the site. If YouTube expands its partnership with VEVO, CNet expects the site to essentially stay the same, with ad-supported free music videos.

Sources tell AllThingsD that YouTube and its owner Google have a deal in place to buy a minority stake in VEVO, but it has yet to be finalized. VEVO is primarily owned by Universal Music Group and Sony Music, with an investment from Abu Dhabi Media.

AllThingsD notes that this agreement could be done at the same time YouTube inks new agreements with UMG and Sony for other licensing issues, such as user-uploaded clips that incorporate music from the major labels. The article notes that under VEVO's deal with YouTube, the site turns over roughly one-third of its revenue to YouTube/Google, and that is not expected to change if this new agreement goes through.