Where is the last place you watched a music video? Chances are it was on YouTube, but more specifically, a channel called Vevo.
The relatively new service, which launched at the end of 2009, has not only become the No. 1 most-watched YouTube channel, but it is the No. 2 most-watched U.S. video platform on the internet!
Even more impressive is that the company has made a $50 million profit since opening up shop two years ago. The joint venture between Sony, Universal, and two other major forces in the music industry has YouTube to thank for their success and CEO Rio Caraeff doesn’t plan on abandoning the video sharing site anytime soon.
Yes, Vevo is in the process of expanding to more platforms like television, Facebook, and mobile apps, but Caraeff assured:
“We have no intention to leave YouTube.”
Makes sense. Vevo leaving YouTube would be like Amazon leaving the internet. That’s where it all started, so that’s where it should stay.
However, that doesn’t mean the company isn’t growing in all sorts of other directions as the head of the company continued:
“I think a year from now you’ll see the Vevo brand and the Vevo site and apps in many more countries, so there’ll be another choice for people who want to get quality video experiences in other countries. It’ll be led by television, but also the fastest-growing part is mobile and tablets and more global revenue.”
Could Vevo become what MTV is used to be and start broadcasting music videos on television? It sounds like it!