VEVO Made $150 Million In Earnings Last Year

VEVO Made $150 Million In Earnings Last Year

In 2009, VEVO debuted as an one-stop music video site aspiring to be the “Hulu for music.” Judging by last year’s earnings, the music video company has done just that, taking in $150 million. It is an impressive feat for such a young company, with a big ingredient to success being their strategy, which relies on providing access on platforms such as YouTube, Facebook and even Xbox Live services.

The big numbers are also due to advertisements and the heavy traffic the site brings in every month—a whopping 3.5 billion views. CEO Rio Caraeff revealed plans for the company’s future in an interview with All Things D, and for now turns down the idea of any possible start-ups for a cable channel powered by VEVO.

[Prefix via AllThingsD]

Tags: vevo, daily-news
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