Unprofitable VEVO Has "10’s Of Millions" In Revenue
Vevo's revenue is in the "tens of millions," collected through sponsorships and advertising, but the site is still not profitable, CEO Rio Caraeff told an audience at TechCrunch Disrupt yesterday. "Vevo is an experiment on a grand scale,” according to Careff, with more than 50% of revenue passed on to the labels and artists."We’ve proven that we can aggregate a large audience," he continued, "and proven that music is valuable to advertisers. If people are passionate than we can monetize that audience.” In an effort to “restore the luster of video advertising,” Vevo’s ad rate is comparable to broadcast at CPM $20.