Words by Mike More
On Saturday, January 30, 2010, Bill Cromie and I were invited to a Tedx event called Tedex Tinsel Town. For those of you who don’t know what TED is, you can check it out here at www.TED.com. The event was hosted by an old business associate, Rio Craffe, the CEO and President of www.Vevo.com, a Universal Music and Sony Music joint venture. This event was well attended by major label thought-leaders in the digital music space, a group of very smart, successful entertainment executives who I personally like and respect very much. So what was discussed? Rio Caraeff presented some detailed data about www.Vevo.com‘s success so far, which sounded very impressive.
Two months out of beta, Vevo has 40 MM unique visitors and 100MM video streams. Rio went on to insist that he does not want to change peoples’ music consumption experience, but instead wants to enhance it.
I can appreciate first hand Rio’s challenges. Three years ago Bill and I created a Video Network called www.Nabbr.com. When we left Nabbr in July 2009, Nabbr reached 38 MM monthly uniques, and at its peak, streamed over 300 MM videos per month. I wish Rio and Vevo the best of luck in scaling Vevo and think if anyone can do it will be Rio. Rio is a very smart, seasoned, entrepreneur.
After Rio presented he was kind enough to answer questions.
I asked how Vevo creates new hits and what is the distribution of video steams by artists on Vevo?
He said that a large portion of Vevo’s traffic comes from Lady GaGa and that almost 80% of the plays are from the top 10 videos on Vevo. They are thinking about ways to help promote content.
Sounds like we are still in a hit driven business.