VEVO has breathed new life into what seemed like a dying business: music videos.
It was created almost exactly two years ago by a pair of record companies -- Universal and Sony -- who wanted to make music videos more of a business.
At the time, music videos (including lots of pirated copies) were spread through countless distributors, and the labels and artists had no easy way to track and monetize them.
The company launched with a distribution deal with YouTube, but VEVO gets first run at selling ads for its content that runs on YouTube. It's also distributed elsewhere, including most recently through Microsoft's Xbox Live service.
Since launch, VEVO has gone on to become the most popular music related Web site, and number three video site (behind YouTube and Facebook) with almost 57 million monthly unique viewers who spend an average of more than an hour at the site.
It has also paid out more than $100 million in royalties to the artists and other content owners who distribute videos through the site.
We caught up with VEVO CEO Rio Caraeff to talk about the future of the company, and music video online.
External Reference: www.sfgate.com
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