Vevo is a popular purveyor of online music videos, but most people probably know it best as the little watermark on the corner of more than 300,000 official music videos on YouTube. Going forward, Vevo will remain focused on engaging the biggest audiences and pursuing growth opportunities.
Announced in a blog post, Vevo says it will be removing its apps from not only iOS and tvOS, but all other platforms outside of YouTube, which means its webOS (Smart TV), Android, and other applications as well.
Co-owned by a coalition of major record labels and tech companies, Vevo said it will continue to sell all Vevo-specific advertising across the distribution platforms it works with. The network will also give its users the option to move any Vevo-hosted playlists over to YouTube.
Vevo has now revealed that it will focus on content and its partnerships with platforms, including YouTube. This comes as a surprise since Vevo has always been considered as a competitor of YouTube. "Vevo offers unique selling propositions for buyers to purchase National, Local and Multi-Cultural audiences at scale, in brand-safe environments, with guaranteed reach and all of the addressability of IP-delivered inventory", continued Vevo in its announcement today.
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However, Huggers left the company in December, signaling a change in direction.
Vevo's former CEO Erik Huggers tried to lessen its dependence on YouTube with the launch of a number of slick apps for mobile and TV-connected devices.
Vevo said it plans to continue to invest in original content and "new formats" they plan to roll out shortly.
"Connecting artists to new audiences, while helping tell their stories, and growing an advertising-based revenue stream that benefits all of our partners, are key considerations that drive how we develop and adapt our business".