|Headquarters Regions:||New York, New York, United States|
|Founded Date:||8 December 2009|
|Number of Employees:||550+|
|Area served:||United States of America and world|
|Products of Company:||video hosting service|
|Net Worth in 2023:||$1 billion|
Vevo is a popular multinational video hosting service from the United States. It is a joint venture of 3 record companies. Vevo has the world’s largest record companies, Universal Music Group, EMI, and Sony Music Entertainment. It hosts music videos of popular artists on YouTube and its app.
However, it has gone on to become a popular library of videos. It continues to be active on various devices like smart TVs and YouTube. Since its inception, Vevo has come up with many things including Certified Awards and 24-hour Vevo Record. It is the largest all premium wider off music videos on a global platform.
Well, how well do you know about Vevo? If not much, here is what we know about Vevo to date.
In the beginning, Vevo was planned to be similar to Hulu streaming services. It aimed to generate revenues from purchased viewed songs on different platforms like iTunes and Amazon music. In 2008, it came up with the name vevo.com. Sony Music Entertainment started adding content by June 2009.
In December 2009, Vevo was launched live, and in a month, it became the most visited music site in America. In doing so, it overtook MySpace Music. Vevo then came up with its own YouTube channel, and there was massive inflation. In 2012, it came up with Certified Awards that honors artists having views of more than 100 million.
Since its inception, Vevo has been a lot of developments. In 2013 an internet television channel called Vevo TV was launched. However, it was available only in Germany and North America system. It soon expanded to other countries including UK, Australia, Mexico, New Zealand, France, Canada, Ireland, and Poland.
In 2014, it was separated into different branches in different networks of country music and hip-hop, and R&B. This service was shut down in 2016. Vevo TV also came up with an automated schedule by Viacom Media Networks. According to this, music videos will play two times in an hour. Following the rebranding of Vevo, it has slowly phased out.
Vevo is now available on many platforms including IOS, Android, Windows, and Playstation 3. One can also access with from Fire OS, Apple TV, Google TV, Xbox 360, and Hulu. In 2018, it shut down mobile platforms to focus on YouTube. Itis also allows editing content to keep the network clean. In 2012, it started coming up with a 24-Hour Vevo Record.
Currently, the song “Me!” by Taylor Swift has a record of 65.3 million in 24 hours. In 2012, it came up with Certified Awards. Many artists have gone to receive certified videos. Shakira and Taylor Swift have 38 and 35 each. It has also worked with emerging artists and offers them a platform to have a global reach.
Awards and Achievements
Vevo has expanded itself to do a leading platform for music. In a month, it has registered 1.1 billion hours of views. This is an exceptional achievement, and it has a worldwide audience due to the original content. Since its inception, Vevo has uploaded more than 450 thousand videos on YouTube.
Net Worth & Earnings of Vevo in 2023
As of 2023, Vevo has an approximate net worth of $1 billion. Thanks to its large subscriber base that it has gone to make this fortune. It is extremely popular, and its videos have been watched billions of times. By having a tie-up with some of the major brands, it has become one of the leading music providers in the world. According to reports, Vevo makes around $350 million a year in revenues. In 2013, its net income stood at $760 million. Over time, it has created many records and continues to be on the top of its competitors.
As a global music streaming service provider, Vevo has provided its audience a large base to have access to music. One can view the videos from different platforms, and it has 26 billion views per month. It is also coming up with Vevo Originals so that viewers can have many options. Many companies are showing a lot of interest in buying Vevo.