The new so called ‘digital music industry savior’ website ‘VEVO’ launched last night in the United States following a star studded launch party held in New York City that attracted some of the music industries biggest names, namely Bono, Lady Gaga, Mariah Carey, Rhianna and many more.
It’s no surprise to hear that VEVO is pretty big news to the music industry with guests like that attending their parties, but what actually is VEVO?
VEVO is another online music video hosting website.. just like Youtube.. made by Youtube. What makes VEVO unique is that it is specifically for streaming music videos and there is an intrusive advertisement business model which might just save the music industry! Similarly to the Spotify business model, each music video you watch will have a short advert at the beginning which will allow the viewer to stream videos free of charge, but allowing the musicians to still get paid.
It all sounds great, but will it catch on? As it stands, I don’t think there is enough incentive for viewers to forget about Youtube and start using this revenue generating website, for a start the VEVO directory of music videos is very limited, particularly in the Indie and yesteryear departments.
Unfortunately if you’re in the UK you won’t be able to access VEVO until next year, but don’t worry – I wouldn’t say you’re missing out on too much! However, the idea behind VEVO has massive potential, so I will be sleeping with one eye open on this topic and hoping that they continue to develop the idea behind the website.
It would be interesting to get some musicians feedback on the VEVO launch – do you think it would be better to let Independent record labels upload their music, or should the directory be kept as major record label content only?