The world’s leading online music video site is planning to launch in the UK in the next few weeks, in the latest attempt by the industry to develop new sources of revenue.
Vevo, which launched in the US in 2009, carries around 30,000 music videos which are syndicated to sites such as YouTube (NSDQ: GOOG) on a free-to-view basis.
Rio Caraeff, the chief executive of Vevo, told the Abu Dhabi Media Summit that the site was “planning to launch in the UK imminently” with some sources indicating a launch could come as soon as this month.
Partly owned by two of the four music majors – Vivendi’s Universal Music and Sony (NYSE: SNE) Music – Vevo aims to provide advertisers a sanitised online environment for videos from the likes of Lady Gaga and Rihanna against which they can place their advertising.
Vevo’s argument is that it is risky for household names to be associated with the full range of YouTube’s content, because so much of the user generated material on the Google-owned site is of varying and uncertain quality.
Music promos are among the most popular online videos. Vevo is ranked as the No 1 online music video destination by comScore (NSDQ: SCOR), reaching 51 million unique visitors in January, marginally ahead of MTV and other Viacom (NYSE: VIA) properties on 48 million.
Vevo is backed by the Abu Dhabi Media Company, and also features music from EMI, home to Katy Perry and Tinie Tempah, although the British music major is not a shareholder. Warner Music is not involved with Vevo – but is involved in a competing alliance with MTV.
Caraeff said Vevo would also become available in the Middle East and north Africa in the coming months, with other European countries, Brazil and Australia following “in the second half [of 2011] and beyond”.
This article originally appeared in MediaGuardian.