Vevo started off with a bang, further confirming what we already knew — that people really like watching music videos online. So much so, in fact, that the online music video site launched on Dec. 8 still managed to beat out existing sites like MySpace Music (s NWS), AOL Music (s AOL), Warner Music (s WMG) and MTV Networks Music (s VIA), while clocking more than 35 million viewers for the month.
Despite some early troubles on the destination site, the Vevo network drew 35.4 million unique users in December, according to comScore (s SCOR) Media Metrix. But it’s worth mentioning that not all of that traffic is attributable to Vevo.com — in fact, comScore’s numbers take into account all views on YouTube’s Vevo channel. It also counts all views that occur in the Vevo-branded player on third-party web sites, including artist sites such as ladygaga.com.
Vevo was formed as a joint venture between Universal Music Group and Sony Music Entertainment, with financial backing from Abu Dhabi Media Co. and technology backing by YouTube (s goog). Like a “Hulu for music videos,” the company was created as a way to extract more value from music videos online, by creating a destination site that could demand higher CPMs than what record labels were getting from video-sharing sites like YouTube.