Vevo is a popular multinational American video hosting service which involves the joint venture of major companies Sony Music Entertainment, Universal Music Group, and EMI. The Warner Music Group also agreed to get the premium videos license which is the third largest record company in 2016. Vevo only provides music videos hosting from both Sony Music Entertainment and Universal Music Group. Recently, Vevo decided to shut down the website and apps of the consumer. Now let’s have a close look on net worth Vevo in 2018.
Vevo founded on December 8, 2009, and headquarters in New York City, New York, U.S. The company providing hosting services in different areas of Brazil, Australia, Canada, France, Germany, Ireland, Italy, Mexico, Netherlands, New Zealand, Poland, Spain, United Kingdom, and the United States. They also owned different groups include Sony Music Entertainment, Universal Music Group, Warner Music Group, and Abu Dhabi Media Alphabet Inc.
The site consists of providing streaming services for music videos which are similar to Hulu who are serving for the TV series and movies. Their main goal is to make huge advertisers with them. Moreover, the site also provides services of purchasing Amazon Music, and iTunes viewed songs. At the time of acquiring vevo.com domain, a deal offered by SME and became the most visited music site while overtaking MySpace Music.
Awards & Nominations
In 2012, the site had got the certified awards with include famous artists and provided 100 million views along with YouTube and other partners. Vevo provided the announcement for Reik Hugger’s action of leaving as the president and CEO and replaced by CFO Alan Price as meantime CEO. Vevo also has its YouTube channel hacked, and the hacker took video deletion action contains Despacito in April 2018.
In 2013, Vevo provided internet television which worked 24 hours in a day. The site shows music videos, and the people who are living in North American and Germany can view, rest of the IP address was blocked to restrict the other country users. After the moderation, the site split into three networks as Nashville for country music, Flow for Hip-hop and R&B and Hits.
Vevo TV consists of a quick schedule which is similar to Viacom Media Networks. The schedule includes play Music videos two times in an hour and to organize different programs like Top 10 Now and Vevo Lift. For different platforms, users can easily use Vevo include iOS, Android, Windows 8, Windows Phone, Fire OS, Google TV, Apple TV, Boxee, Roku, Xbox 360, PlayStation 3 and PlayStation 4.
Net Worth & Earnings
Vivo has an estimated net worth of around $1.5 billion. The site has earned mostly from providing Music Video hosting and with Vevo TV. With the Joint venture of major companies like SME, UMG, and EMI, the site has reached to the top for most music visiting site.
Vevo provides their services to different areas include Australia, Brazil, Canada, France, Germany, and more. All of them controlled from the headquarters in New York, the U.S. The main aim of the site is to provide streaming for the music videos and to get in contact with advertising companies.