"Almost 30 years after MTV first broadcast that video had killed the radio star, Vevo's music video site launched in December, hoping to revive a format that had been languishing. At 34, Rio Caraeff, a former digital executive at Universal Music, oversees a company owned by Universal, Sony Music and the Abu Dhabi Media Company. He has worked with Google's YouTube site to deliver 50,000 high-definition videos from 8,000 artists on YouTube, on Vevo.com and on sites from AOL to Last.fm. He has secured videos from three large labels, but not Warner Music. Edited highlights of a video interview with FT.com appear below.
Six months on from your launch, what scale have you grown to?
We have just under 50m unique visitors each month. It's a significant amount of scale that we've built in a very short period of time, largely due to our partnership with Google. We've built the largest music entertainment network online today.
How much of that traffic is Google/YouTube responsible for?
About 80 per cent of our business comes through the YouTube channel, and about 20 per cent comes off the YouTube channel [from elsewhere]. Our goal is to get to a balanced position fairly soon."
Source: Financial Times, 28th June 2010
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