What the majors want from the video hub, what he learned from MySpace – and why mobile is more than just phones
Vevo was launched in 2009, offering music from artists on the record labels Universal, Sony Music and EMI; Warner Music, however, chose to partner with MTV on a rival service. Vevo is owned by Universal and Sony along with the Abu Dhabi Media Company. Jones rejects the comparison to MTV yet the business model is identical: Vevo takes content from the labels, monetises with video ads on distribution networks such as YouTube, and shares what's left with the rights holders. The company won't share revenue figures, but says it has returned $200m to rights holders since launch. "Vevo is at the pointy end of what the labels want to do, right at the heart of the music connecting with the fan," says Jones. "The labels wanted to be proactive and take control. We have a good relationship with them - in fact when we're not live in a country, we have them on our backs wanting to launch." The proposition for brands is just as strong, he argues. "This is not just about targeting socioeconomic groups – this is people in their 20s who are way more engaged with music than anything else, and that's a very rich seam to mine."
