Erik Huggers. Photo: Code/Media
Ten months after taking the helm of Vevo, the ex-Verizon Communications Sr. VP Erik Huggers has revealed his streaming company may be moving towards subscription-based model to pair with its existing ad-supported platform.
“We believe in a dual revenue stream,” said Huggers to a crowd at the 2016 Code/Media conference on Wednesday, Feb. 17. “We’ve got a phenomenal sales force that knocked it out of the park in 2015–absolute biggest year in Vevo history. We want to build on that strength. The second piece would be a pay model.”
The CEO did not elaborate on the details of a pay-wall, but confirmed “there will be absolutely free Vevo” moving forward.
“Just having a ad-supported model is not sustainable in the long run,” he concluded at the Dana Point, California-conference. “We do believe an ad-supported plus a pay model makes a ton of sense.”
Vevo distributes to an estimated two-dozen video platforms including YouTube, according to Billboard. The service is co-owned by Universal Music Group, Sony Music, Abu Dhabi Media and Google.
Category: Featured, Sales/Marketing
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Eric T. Parker oversees operations and contributes editorial for MusicRow's print magazine, MusicRow.com, the RowFax tip sheet and the MusicRow CountryBreakout chart. He also facilitates annual events for the enterprise, including MusicRow Awards, CountryBreakout Awards and the Rising Women on the Row. eparker@musicrow.com | @EricTParkerView Author Profile
