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Google boss takes punt on Muzu.tv

The music video venture backed by Google Ireland's chief John Herlihy and tech tycoon Bill McCabe is now turning a profit in the tough-to-monetise online music streaming space.

Muzu.tv has also just sealed a deal with X Factor maker Freemantle for the rights to show Simon Cowell's multimillion-viewer TV talent show's content globally, outside of Britain. It returns with a new series this Saturday.

"The business has broken even and is profitable," said chief executive Ciaran Bollard.

Muzu's earning power comes from advertising – particularly a deal with media colossus WPP. It pulls in between €250,000 and €300,000 in advertising run roll a month, according to Bollard, suggesting revenues of around €3.5m.

"We're doubling year on year in revenue and traffic," said Bollard. "We want to more than double our business within the next year."

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