Vevo Finally Sees Growth! | MUSIK !D TV NEWS
Vevo’s earnings boosted 30% in 3017 to hit $650 million as the video streaming business broke even for the first time. The company is plurality owned by Universal Music Group with Sony and Alphabet/Google as shareholders. There has been a history of annual losses for Vevo, but they declared that the company would be profitable by early 2018.
Advertisers are said to be relocating the business from YouTube, which means Vevo have to rearrange its exclusive partnership. Vevo’s new focal point is transferring broadcast advertisers to digital in a way to construct a profitable ad-funded online video business.
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