News - 02/01/2018

Vevo's revenues grew to $650m in 2017

Vevo's revenues grew to $650m in 2017

As reported by the "Financial Times", Vevo stated that its revenues increased from $500m in 2016 to $650m in 2017: an overall growth of 30%.

The video platform also added that it was generating 25bn monthly video views by the end of 2017, and that it broke even for the year. Also, it expects to be profitable early in 2018. The claim that music video is a “massive opportunity” will be tested in 2018 – and not just by Vevo. Indeed, Facebook’s music strategy is taking shape, while YouTube is expected to make video a key part of its upcoming ‘Remix’ streaming service, while Vevo’s distribution deal with YouTube comes up for renewal.

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