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Vevo says its music videos generate more than 800m daily views

A birthday we almost forgot about: Vevo is 10 years old this year. The music-videos firm has published a few new stats to celebrate the performance of the 400k-plus videos in its catalogue.

Vevo says that its catalogue is currently averaging more than 800m views a day, rising to near-1bn on the weekends. It also says that it has seen a 300% growth in daily views over the past five years.

That period, of course, includes the moment in May 2018 when Vevo decided to ‘phase out’ its owned-and-operated services – its website and mobile app – in favour of working purely through distribution partners. YouTube remains the most prominent, but Vevo now also makes its catalogue available through Amazon, Apple, Roku, Sky, Virgin Media and Viewd.

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Vevo’s Greg Duffy explains how artists can ‘growth hack the music video’

‘Growth hacking’ is very much a Silicon Valley phrase: a term used to cover a range of tactics used by startups when they’re trying to build a big audience very fast, in their early years. 

Yesterday at Music Ally’s Sandbox Summit conference in New York, Vevo’s business operations and strategy manager Greg Duffy applied the term to music: specifically to music videos.

Among the lessons he delivered: while YouTube’s algorithmic recommendations drive 74% of views for Vevo’s catalogue, it’s playlists (rather than individual ‘suggested videos’) which are the number one source of traffic.

Before explaining the implications of that, Duffy broke down YouTube’s algorithm into the key qualities that videos need.

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Vevo’s JP Evangelista: ‘Music videos are competing against everything’

Last May, Vevo announced that it was going to phase out its owned-and-operated website and mobile apps, focusing instead on being a distributor for music videos and selling ads around that content.

Vevo.com still exists but mainly as a glorified holding page, with users being pointed instead to youtube.com/vevo where the company has more than 18m subscribers.

JP Evangelista is Vevo’s head of content and programming, a job he took over in March 2018, having been with the company since its inception back in 2009.

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K-Pop companies team up to create ‘the Korean version of Vevo’

YouTube has played a significant role in the spread of K-Pop music far beyond its homeland of South Korea, from Psy’s ‘Gangnam Style’ to the recent global success of BTS – and plenty of artists in between. Now a group of K-Pop music companies are teaming up for a new venture, Music and Creative Partners Asia (MCPA), to push things on.

Mystic Entertainment, Big Hit Entertainment, Starempire, SM Entertainment, FNC Entertainment, YG Entertainment and JYP Entertainment aren’t hiding the inspiration for MCPA either, describing it in their announcement as “The Korean version of Vevo”.

They explain: “MCPA will serve as a representative window for determining and negotiating music video distribution and related policies for YouTube and other global digital service platforms, and will also provide new platform services for distributing music video contents. In addition, it plans to discuss various business expansion plans including not only music video but also a broadcasting platform for the production and supply of new contents using related IP.”

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Vevo to ‘phase out’ its own mobile apps and website

The launch of the YouTube Music subscription service has sparked questions about what it all means for Vevo, which distributes music videos to YouTube while also running its own apps and website.

Today, the company has answered that question: it will “phase out” its owned-and-operated mobile apps and site, and move forward as a pure distributor of music videos (and related content) and advertising seller for that material.

“At Vevo, our objective is to grow the commercial and promotional value of music videos, fostering deep connections between artists and fans. To be most effective in achieving those goals, we will phase out elements of our owned and operated platforms,” announced the company this afternoon.

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Vevo confirms product and engineering layoffs as CTO leaves

It’s fair to suggest that Vevo is having a difficult Spring: following the recent hacking of some of its key accounts, now the company has confirmed new layoffs within its product and engineering teams. 

Variety first reported on the cuts, suggesting that they were “significant” and noting that chief technology officer Alex Nunes has also recently left the company.

Vevo issued this statement in response: “We can confirm there has been a reduction of personnel across the Product & Engineering teams at Vevo. This decision allows for greater focus to drive increased growth in the promotional and commercial value of videos,” said the company. “This will build on what was a very strong 2017 for us with growth in the scale and reach of the music video.”

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Despacito disappearance was due to a ‘security breach’ at Vevo

Remember the days when labels would ‘delete’ singles once they wanted to clear the decks for the next release? Yesterday, it seemed for a moment that the unthinkable had happened, with the 5bn-views video for ‘Despacito’ disappearing from YouTube.

This was no label action though, nor – despite some headlines – was it a hack of YouTube itself. Instead, the issue was at Vevo.

Here’s the company’s statement: “Vevo can confirm that a number of videos in its catalogue were subject to a security breach today, which has now been contained. We are working to reinstate all videos affected and our catalogue to be restored to full working order,” a spokesperson told Music Ally. “We are continuing to investigate the source of the breach.”

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Vevo says its revenues grew to $650m in 2017

Fresh from the exit of its CEO Erik Huggers, Vevo has been telling the Financial Times about its growth in 2017.

The music-videos service saw its revenues increase from $500m in 2016 to $650m in 2017 – growth of 30%. Vevo added that it was generating 25bn monthly video views by the end of 2017, and that it broke even for the year, and expects to be profitable early in 2018.