Music video website VEVO is launching a TV channel called VEVO TV. VEVO TV will be running 24 hours per day and seven days per week. The company will air hour-long blocks of music videos with different themes like one hour of pop music straight.
Google Inc. is currently in talks to invest $50 million into music video service Vevo LLC. Google would own less than 10% of the company as part of the investment and would give the music video website a valuation of about $500 million according to sources with Bloomberg. The negotiations are still in early stages.
According to Nielsen, the top five YouTube channel partners drove a combined number of 1.5 billion total streams in May 2012. The top 5 channel partners include Vevo, WMG, Machinima, Fullscreen, and Maker. YouTube gives content creators tools and programs to improve skills, build audiences, and monetize videos. YouTube received 136 million unique viewers who streamed 16 billion videos during May 2012. Below are some additional bullet-points put together by Nielsen.
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Vevo founding partner Fred Santarpia has been hired by Conde Nast Entertainment Group (CNEG) as an executive vice president and the chief digital officer. Santarpia will be the head of CNEG’s digital business and video distribution.
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The problem with a lot of the music video channels like MTV, VH1, and BET today is that they don’t actually play music videos that often. They are too busy shows with fist-pumping Italians, the opportunity to fall in love in with Flava Flav, and the Phat Girlz. I believe that Vevo would make up for the lack of music videos on TV. This is why I thought it was great news when Vevo was in talks with cable carriers to become a channel.
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News Corporation (NASDAQ:NWSA) is rumored to be in talks to hand off MySpace.com to Vevo.com. Vevo.com is an online music video website that is partially owned by some of the top record companies. The talks are currently in preliminary stages and an agreement may not be reached.
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SongKick is a United Kingdom based company that has raised $1.8 million in their fourth round of funding according to an SEC filing. SongKick is aiming to build an IMDB-like service with a musical history for artists. SongKick also provides alerts, ticket sales, and APIs for other partner websites to display upcoming concert dates on artist pages. Vevo is one of SongKick’s biggest partners. SongKick has raised a total of $7.5 million. [ReadWriteWeb]
Music video streaming service VEVO.com has released a mobile application for the iPhone and iPod Touch [iTunes Link]. Now you can watch high-quality music videos when you are on the go. Best of all, the application is free (currently available in the U.S. and Canada).
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