Music-videos service Vevo is working on a paid subscription tier, according to its CEO Erik Huggers.
“Today our business is all about ad-supported. So we think that one of the important things — we hear this throughout the industry — is the move toward subscription. That’s something we’re interested in,” he told the Code/Media conference in California.
“We think there is a big opening and a wide space to make something better. That requires quite a bit of new muscle tissue that the organisation doesn’t have yet.”
A Vevo subscription is likely to involve more original content like long-form documentaries, and could launch as soon as this year according to Huggers.
“Just having an ad-supported model is not sustainable in the long run,” he said, while noting that Vevo will not abandon its free tier. “This is about building an independent, long-term business.”