VEVO's Rio Caraeff Talks Profit, Expansion In Interview
December 7, 2011 at 3:02 PM (PT)
In a an interview with BUSINESS INSIDER's MATT ROSOFF, VEVO CEO RIO CARAEFF said that his company is on track to be profitable in the first half of 2012, although he said that "(i)t's not our intention" to spin the online music video site, a partnership between UNIVERSAL and SONY, as an independent company, adding, "but again, we're only two years old."
Among other highlights of the interview, CARAEFF disclosed that YOUTUBE is responsible for 70-75% of the service's volume; The company is "negotiating and discussing" how it packages videos on YOUTUBE and looking at more original programming and live events; VEVO has no plans to buy an existing cable channel but plans to be on television in some form; and the company plans to try offering premium content, although "we're being careful to do it right and not to try to charge people for things they've never had to pay for before."
Read the entire interview by clicking here.