Vevo closing its website, mobile apps, will refocus on YouTube relationship

The major label-owned Vevo has dumped plans to set up its own music video platform independent of YouTube.

Instead, it will start shutting down its mobile apps and consumer-facing website, and refocus on its links with its distributor, YouTube.

“At Vevo, our objective is to grow the commercial and promotional value of music videos, fostering deep connections between artists and fans,” Vevo said in a blog.

“To be most effective in achieving those goals, we will phase out elements of our owned and operated platforms.

“Going forward, Vevo will remain focused on engaging the biggest audiences and pursuing growth opportunities.

“Our catalogue of premium music videos and original content will continue to reach a growing audience on YouTube and we are exploring ways to work with additional platforms to further expand access to Vevo’s content.”

Vevo claims an average 25 million unique viewers a day, 25 billion a month, and 300 billion for the 2017 calendar year.

It has achieved these high figures through a distribution deal with YouTube. Google, which owns YouTube, has a minority share in Vevo.

The move to be independent of YouTube was begun by its CEO Erik Huggers, who launched a number of apps for mobile and TV-connected devices, and formulated plans for a Vevo paid subscription service for music videos.

Huggers’ push for greater independence intensified as Vevo’s revenue grew by 30% to $650 million in 2017, allowing it to break even.

But those plans have been dismantled after Huggers left the company last December.

He was followed by head of product Mark Hall and, more recently, its chief technology officer Alex Nunes.

Last month, it laid off much of its product and engineering team, an indication of its changing business model.

Vevo has told its users they can transfer their playlists to YouTube.

At this early stage, the apps will continue to operate for the time being, and Vevo will continue to sell ads to its service alongside the ones generated by YouTube.

Many of Vevo’s videos will make up the content for the newly-launched YouTube Music subscription service.

The “additional platforms” referred to in the statement are said to be Facebook, Snapchat and Spotify.

The new look Vevo will continue to aim for more original content.

This has taken the form of funding music videos for selected artists, and filming footage for its new artist platforms Dscvr and Lift.

Vevo stated: “Connecting artists to new audiences, while helping tell their stories, and growing an advertising-based revenue stream that benefits all of our partners, are key considerations that drive how we develop and adapt our business.

“Belief in the power of the music videos will always remain at Vevo’s core.”