Vevo is a short-form of “video evolution.” It is a US multinational video hosting service. It got started by hosting only music videos from Sony Music Entertainment, and Universal Music Group on YouTube and its application. The service distributes majorly through YouTube, and its application is available on selected smart TVs, gaming consoles, and DVRs.
Inception
Vevo got founded on June 16, 2009. It was formed as a joint venture among three prime record firms that included Universal Music Group, Sony Music Entertainment, and EMI. The CEO of this company is Alan Price. The company belongs to the Multimedia music industry.
In August 2016, Warner Music Group, the third-largest record firm, agreed to authorize premium videos from the artists to Vevo.
The headquarters of Vevo are located in New York, New York, United States. Universal Music Group, Abu Dhabi Media, Alphabet Inc, and Sony Music are the majority owners of the company, and Warner Music Group is the minority owner. The net worth of the company is computed to be US$ 760 million.
Evolution
The original wordmark of Vevo was used from December 2009 till March 2013. The second logo of Vevo was used from March 2013 to July 2016. Vevo was described as streaming music videos to attract more high-end marketers. Some of the other sources of revenue generation of Vevo included a merchandise store and referral links for buying viewed songs on iTunes and Amazon Music.
On November 20, 2008, UMG obtained the domain name “vevo.com.” On December 8, 2009, the site had gone live. It overtook Myspace Music and became the most visited music website in the US.
After the inauguration, several YouTube videos got added by “Vevo” and earned massive views. In June 2012, Vevo inaugurated its Certified awards that honored artists with a minimum of 100 million views on Vevo and partner websites that included YouTube.
On May 24, 2018, Vevo made a declaration that it is closing its consumer website and will remove its app from various mobile platforms to be able to focus on YouTube syndication.
On March 15, 2013, Vevo inaugurated Vevo TV, an internet television channel that is operated 24 hours a day. It featured specials and music videos. Vevo TV later split off into separate networks: that included Hits, hip hop and R&B, and Nashville.
Vevo became available in the Netherlands, Brazil, the United Kingdom, Australia, New Zealand, France, Canada, Ireland, Germany, Mexico, Italy, Poland, Spain, and the US. On April 26, 2011, the Vevo service was launched in the UK and Ireland. On April 16, 2012, it was launched in New Zealand and Australia. On August 14, 2012, the service was launched in Brazil. On November 15, 2012, it was launched in Italy, Spain, and France. On April 3, 2013, its iOS application was updated, and it became available in the Netherlands. This was followed in Poland on May 17, 2013. On September 29, 2013, the service was launched in Germany. On April 30, 2014, it was launched in Mexico.
Vevo is available for plenty of platforms that included Apple TV, Android, iOS, Windows 8, Windows Phone, Boxee, Google TV, Fire OS, Roku, PlayStation 3, PlayStation 4, and Xbox 360.
