Vevo Launching in Six New Countries
“This year we’re hoping to launch in at least another six countries – Our big priority is to make the service more available,” said Caraeff.
VEVO, a sort of Hulu for music videos, was redesigned last week, and is presently available in the U.S., Canada and the UK – Australia is one of the new markets under consideration.
Upon inquiry concerning these talks, Caraeff stated, “we’re in a good position. Content is king. We’re seeing a lot of distribution partners take an interest in that content as a way to differentiate their services. We’ve had a lot of people reach out and say, ‘What more can we do together beyond just having the player on our platform?’ We’re talking with everyone about a more in-depth relationship; we’ve nothing to announce.”
VEVO content presently gets about 3.5 billion views a month, with 30% of those coming from YouTube, and Caraeff points out that “mobile and tablet is the fastest-growing part of our platform – Xbox is exceeding our expectations.” Caraeff added that it’s integral for Vevo to diversify its revenue streams from plainly selling ads posted on music videos. The company took in $150 million in 2011, and likewise paid $100 million in royalties.
Caraeff added that “advertising is a great model when you’re trying to reach billions of people – but it’s not the only model.”