Vevo said in a blog post Thursday it'll "phase out elements" of its owned and operated platforms, which are primarily mobile apps and apps for streaming media boxes like Roku and Apple TV. Never mind that all three major music labels originally founded the video hosting service to curb YouTube's unrivaled dominance.
Amazon's unannounced YouTube competitor could be on the list, as the company looks to provide its own video platform for the Echo. Apart from this, the company plans to sell its own advertising against its videos. Facebook is an obvious potential partner for Vevo's catalogue, as its music ambitions expand, but Snapchat, Spotify and other platforms could also come into play.
"We will continue to be the primary seller of Vevo-specific advertising on all distribution platforms - including the sponsorship of video premieres". Should YouTube Music fail to succeed on a massive scale, expect more "strategic shifts" at Vevo, including unexpected resignations and sudden dismissals.
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Vevo will continue to create original shows like dscvr, which helps its viewers discover up-and-coming artists.
Earlier this year it was reported that Vevo broke even in 2017, thanks to a 30 percent jump in revenue.
Vevo, an abbreviation for "Video EVOlution", launched in late 2009 as a joint venture between the Big Three recording companies - Sony Music Group, Universal Music Group and Warner Music Group - for the objective of streaming music videos. The site reported last month that CTO Alex Nunes left "in recent weeks", prompting the company to reduce staff across its product and engineering teams. The company is optimistic.