Vevo CEO Boasts Of $150 Million In Revenues For 2011
February 1, 2012 at 4:20 AM (PT)
VEVO CEO RIO CARAEFF, speaking with ALL THINGS DIGITAL’s INA FRIED at the "Dive Into Media Conference," said that his company generated $150 million in revenue in 2011. REUTERS reports "when pressed about future growth, CARAEFF envisioned $1 billion in revenue within a 'short period of time'."
VEVO is a music video joint venture of UNIVERSAL MUSIC GROUP, SONY MUSIC ENTERTAINMENT and EMI. ABU DHABI MEDIA is a co-owner with UMG and SONY.
"The future of the music business is allowing billions of people around the planet to access music experiences," CARAEFF said.