Vevo LLC, the online music-video service, said its viewership jumped by a third as it expands beyond Google Inc. (GOOG:US)’s YouTube with applications for mobile devices and web-connected-televisions.
Vevo had 1.58 billion worldwide viewers in the second quarter ended in June, compared with 1.17 billion a year earlier, the New York-based company said in an e-mailed statement today. Half of Vevo’s audience now comes from smartphones, tablet computers and Web-connected set-top TV boxes such as Roku.
The company, controlled by Vivendi SA (VIV)’s Universal Music and Sony Corp. (6758), started a 24-hour music network for U.S. and Canadian viewers in March, accessible through its website and apps for Apple Inc. (AAPL:US)’s iPad and iPhone and devices running Google’s Android software. It plans to expand the service to pay-TV systems to increase advertising sales and create new revenue from subscriber fees.
“We’re seeing a lot of growth on our platforms outside of YouTube,” Chief Executive Officer Rio Caraeff said in a phone interview. “Our strategy is to give viewers videos wherever they are -- and not force them to watch on YouTube.”
Vevo, founded in 2009, started out distributing videos on YouTube in exchange for a portion of the ad revenue generated. Its service now shows about 122 million music videos daily worldwide, according to the statement. In June, it streamed 4 billion videos, compared with 3 billion in the same month a year earlier.
The company remains in discussions with pay-TV services to carry its channel, Caraeff said. Such a service would put Vevo in direct competition with Viacom Inc. (VIAB:US)’s MTV and VH1 channels.
Vevo is seeking to raise money from investors, including Guggenheim Partners LLC, people with knowledge of the process said earlier this year. It reached a new distribution deal with YouTube in July that included Google making a $50 million investment in the service.
Vevo’s service is available overseas in Australia, Brazil, Canada, France, Ireland, Italy, The Netherlands, New Zealand, Poland, Spain and the U.K.
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