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Vevo revenues hit USD150m in 2011
Online music video site Vevo made USD150m in revenue last year, according to CEO Rio Caraeff. Launched by Universal Music Group and Sony Music Entertainment in 2009, the service gets most of its views through YouTube, where Vevo is one of the most popular channels. Its exclusive access to premium music video content allows the channel to command advertising rates on a par with broadcast television. Caraeff also claims the channel also has 3.5bn monthly video views and is profitable. “The future of music is about allowing billions of people on the planet to access music experiences, not trying to sell music to a small amount of people who want to buy it,” he says.
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