It seems that you can judge whether a band has “made it” if you search for their videos on YouTube and they have a Vevo page. The reason for this is Vevo has the backing of several of the biggest companies in the world, from Google, to 2 of the “big 3” record labels. Is it in any wonder then, that when they revealed their latest Key US metrics from January to June 2013, they showed a 27% year-on-year rise in global quarterly viewers, bringing the total of viewers to 1.6billion?
This figure is up from 1.178 in Vevo’s Q2 2012. In yet more good news for the company, global unique streams are up by 25%, reaching 12.4billion. Some of the most popular video’s on the site come from artists such as Lil Wayne, Drake and Rihanna. The most popular video on Vevo is currently ‘Love Me’, by Lil Wayne featuring Drake and Future, with over 67million views. However, this video is set to be overtaken by starlet turned controversy magnet Miley Cyrus, who’s video for her single ‘Wrecking Ball’ courted 19million views after being uploaded for a mere 24 hours. The number of views is currently over 64million.
Whilst these figures are great news for Vevo, they are slightly worrying for its competitors. According to ComScore, figures show that in terms of unique visitors, Vevo was over 14million visitors ahead of its nearest competitor, the MTV Music Group, in the August of 2013. Its next closest competitor, Yahoo! Music, barely got a look in, with its 3.7million unique visitors being dwarfed by Vevo’s 49.3million.
The reason for Vevo’s runaway success in the ever expanding Internet music video market is simply due to the clout of its backers. As previously mentioned, 2 of the “big 3” record labels (Sony and Universal) have deals with Vevo, so the company essentially has an incredibly impressive roster of popular artists at their disposal. This also means that any site that wants to distribute videos for music belonging to these 2 major record labels also has to strike a deal with Vevo. They also have the backing of net giants Google, who own YouTube, which is one of the major ways people access music videos in 2013, (as anyone who’s ever used a computer will know).
Outside of the net, Vevo have made huge steps into taking on the mobile, tablet, and connected TV market, with monthly traffic to apps on these devises rising by 184% year-on-year. Monthly downloads are also up by 26%.
In short, these latest figures released by Vevo make the company look virtually unstoppable. Their connections with major record companies and YouTube are leaving its competitors in the dust. Unless its competitors can find backers that can match the amount of power Vevo’s backers have in the music industry, this situation is unlikely to change.
It seems that you can judge whether a band has “made it” if you search for their videos on YouTube and they have a Vevo page. The reason for this is Vevo has...