The site is discussing paternerships with companies including Channel 4, Virgin Media and ITV, and – while not actively seeking investments – is talking with EMI and Warner Music over share holding. The venture is also backed by the Abu Dhabi Media Company.
Vevo Chief Executive Rio Caraeff describes the venture as an ‘integrated MTV’ service, and has a deal with Warner in the US. According to the Guardian newspaper, this should not precluded any potential agreement with Vevo internationally.
The UK operation will operate as a standalone organisation and is the first step towards similar operations in the Middle East and North Africa. Other European countries, along with Brazil and Australia, are likely to follow.
‘We want to expand distribution into TV partnerships, radio partnerships and live events,’ says Caraeff. ‘The idea is to put the highest quality video experience in front of people. We want Vevo everywhere the customer is.’
Aimed at the18- to 34-year-old demographic that it attracts very large numbers in the US, Vevo already claims that its UK audience is greater than the joint online audience of ITV, Channel 4 and BSkyB.
More: www.vevo.com
