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.
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