Vevo wants $500m to pursue ambitions in the crowded streaming market

But it's hard to see what its hook will be...

Vevo, the online music service which has become the go-to channel for the world's biggest artists to release official music videos, is looking to raise $500m to fund plans beyond YouTube where most users view its content.

The Financial Times reports that the company has hired Goldman Sachs to help it to realise these ambitions - citing "three people briefed on the plans."

The company is following what is now a well-worn blueprint - developing a paid subscription service pushing curation, and music-based original programming.

As YouTube took off and users flocked to the streaming service to find new music, Vevo served as an antidote to pirate videos on the platform.It is majority owned by Universal Music and Sony Music - allowing the labels to post content on YouTube through Vevo and to monetise on the views.

It is majority owned by Universal Music and Sony Music - allowing the labels to post content on YouTube through Vevo and to monetise on the views.

Google's YouTube also owns part of the service - as does the Abu Dhabi Media Company.

Like all of its competitors (who have a healthy head-start on Vevo) they are using curation and original content as their main selling points.

Rival services have recently pulled off major coups securing exclusive videos from top-artists.

Tidal had the rights to stream Beyonce's blockbuster visual album Lemonade as well as Kanye West's controversial Famous video and Apple Music secured Frank Ocean's visual album Endless.

Spotify is also beefing up its video offerings and YouTube has launched its own paid-for music streaming service.

In this crowded field, it's hard to see where Vevo will find an audience without using its industry links to secure exclusive content.