Since its launch two years ago, Vevo, the label-backed YouTube offshoot, has paid out approximately $100 million to artists, publishers, and labels.

The site is finally on the verge of turning a profit for parent companies Google and Universal, too, as increasing viewership—from an estimated 30 million monthly unique visitors back in December 2009 to more than 63 million last month—has driven surging ad revenue.

Vevo’s viability was questioned early on as the music industry suffered on almost all fronts, but the direct monetization of music video content—previously unheard of during the days of MTV’s dominance—has proven to be a shrewd move.

[via Los Angeles Times]