CEO: Vevo Made $150 Million In Revenue Last Year


Salon Staff
February 1, 2012 7:00AM (UTC)

DANA POINT, Calif. (AP) — Vevo, the online music video service launched by Universal Music Group and Sony Music Entertainment in late 2009, pulled in $150 million in revenue last year.

The figure, announced at a technology conference Tuesday by its CEO Rio Caraeff, is the first time the service has given a glimpse into its financials.

Advertisement:

The service gets most of its viewers through YouTube, where Vevo has a dedicated channel.

Vevo's popularity has boomed, going from 350 million global views per month two years ago to 3.5 billion a month now.

Caraeff also said Vevo has paid out $100 million to the music industry for the licensing fees on the videos over the last two years. He also told the "D: Dive Into Media" conference that the company is profitable.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •