Vevo: We’ve Paid Artists $200 Million Since 2009
Vevo announced at the Business Inside: Ignition Conference in New York City that the company has paid back $200 million in revenue back to the music industry since being founded in 2009, a figure it touted as higher than any other music-video service.
“The audiences that loves music should be treated and valued the same way as the audience that loves the Super Bowl, and revenue should flow as such,” Vevo president/CEO Rio Caraeff said at the conference.
Caraeff also noted that Vevo paid more royalty revenues in 2012 than its first two years as a company combined — or $100 million, as he told Billboard earlier this year, with over $150 million in revenue in its second year in business.
Through a spokesman, Vevo declined further comment on the figures.
