VEVO targets cable with music video network
Online music service VEVO has launched VEVO TV, a music network for the Internet and cable TV. The service currently is accessible on VEVO.com and as a mobile app for Apple's (Nasdaq: AAPL) iOS, Android and Windows tablets and phones. It will also be available via Roku and Xbox. However, the company aspires to have VEVO TV available on cable networks by year-end.
In an interview with AdWeek, Michael Cerda, VEVO's senior vice president of product and technology, said VEVO TV will feature hour-long programming blocks that will highlight certain artists and music genres. In addition, VEVO TV will broadcast live concerts and interviews with performers.
The company has decided to seek long-term deals with cable networks as a way to get VEVO in front of more users on a regular basis and also give VEVO more access to TV advertising budgets.
The service will likely compete with Viacom's (NYSE: VIA) MTV. According to SNL Kagan, MTV is available in about 98 million U.S. pay-TV homes.
VEVO, which is a joint venture of Sony Music Entertainment, Universal Music Group and Abu Dhabi Media, recently retooled its service to encourage more continuous playlists and discovery. The company, which debuted VEVO TV in Austin, Texas, this week at the South by Southwest conference, said that if VEVO TV takes off, the company may launch more networks such as a hip-hop-only version of VEVO TV.