For about nine months reports have been circulating that Vevo’s owners are hoping to sell the company. Universal Music owns the majority of the platform, followed by Sony. Abu Dhabi Media and Google have also invested in the company.
In July re/code reported that Universal and Sony are sucking money out of Vevo. 90 percent of revenue is reportedly split between the labels, Google, and publishers. Universal and Sony get around 55 percent. The company operates at a loss.
Fast forward and Vevo has just proudly announced that they had over 10 billion views in January 2015.
They had 1.2 billion views in January 2014. Half of these views took place away from the computer, on phones and TVs.
Vevo may be losing money, but at least they have 10 billion views.
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u
The more views they have, the more royalty payments they have… :/
What do they need money for? They should be doing it for the love and exposure…
I love your attitude. These good for nothing artists should starve while we all get our entertainment. After all, if they’re true artistes, they do it purely for the love! Oh, and here’s a plus, even if they don’t get paid, can’t pay rent, eat out of the dumpster, they’ll still keep producing art for us all to enjoy! They’ll keep believing in this exposure thing, even on the verge of starving to death that guitar dude still thinks he’s got a shot at being jimmy page.. free music for the win… aren’t we all so damn lucky?
Touché.
Sometimes I think it’s a little too late for all you creatives out there. I’m not an artist or musician, but both my parents work in creative fields (dad’s a recording engineer since the 80s, mom’s a graphic designer) and they have adviced me to avoid their fields at all cost, simply because the creative industry isn’t how it used to be. Dad even said that if he started out today he would’ve picked a different career. In the early 80s till the late 90s, most of his clients consisted of working musicians funded by their respective indie labels. These days his clients are mostly rich kids bankrolled by their wealthy parents. The infrastructure that existed back in his day allowed him to make a decent living, and unfortunately this infrastructure does not exist anymore for this generation.
Once upon a time creative work was treated like a skilled trade – people paid for your services and you are considered a professional. Today, thanks to the poor economy, outsourcing, technological changes, democratisation of tools/services, and the entitlement attitude so prevalent in today’s world – it is now nearly impossible to make a stable living in the arts. Unless you’re born into wealth or have solid investments/passive income, a creative career is indeed a losing game.
Thank you Harold !!!! :)!!!!!!
VeeVooooo! as I call it is the most idiotic and hopeless operation in music business!
You cannot convert it to any meaningful money machine!
Happy SLAVE on YouTube PIRATE boat with no BRAIN giving away the goodwill of not DEAD yet empire!
UMG, it’s time to close this GROTESQUE and implement all resources to conversion of Radio and streaming to PRIMITIVE, discovery based, music store.
C’EST LA VIE YouTube! …unless you want to be $50B hub of $100B+ music industry.
Pandora? Spotify? …boys and girls YOU ARE OUT OF CONTENT, unless you want to give the please as a MUSIC STORE.
ALL WINNERS IN GOLDEN PARACHUTES making $100B music industry by 2020 except
Sorry VeeVooooo! Sorry Ek style streamers!
Sweden just plateaued at 50% of 1999 – sub and ad supported PIPE DREAM IS DEAD! it is dead, sorry!
The rest of Remi’s speech can be found here: https://www.youtube.com/watch?feature=player_detailpage&v=uyaJ8eR9tzw#t=1
https://www.youtube.com/watch?v=_cOlJdObNlc
Nice choice! Love that optimistic smile.
Well, it’s kind of a misnomer. If your “owner” is also the biggest recipient of revenue, it’s more of a pass through than a loss right? I would imagine they probably are getting some tax benefit by running it at a loss.
Yes, imagine that. A music business engaged in creative accounting.
Maybe if Vevo wasn’t so horribly slow in loading, they would have succeeded.
They had one job…