Vevo is the world’s largest platform for music videos and today they’ve acquired subscription streaming service: Showyou.
Vevo offer music videos from major record labels through YouTube, partnered with Universal Music Group, Sony Music Entertainment and Abu Dhabi Media. However lately the company have been making moves towards a more independent approach, evident in their acquisition of Showyou.
Showyou is a curated video-streaming platform which collates content from various video-hosting sites. Showyou have also been offering a subscription model since last year which allows you to create a channel of content from channels users subscribe to and a custom feed based on their interests.
This is interesting as it marks Vevo’s first steps into content with paywalls, all of their content having been free and ad-supported in the past. Vevo are hoping that this move will enable to speed up the process of implementing some sort of subscription model or monetization opportunities into their content.
Vevo president and CEO, Erik Huggers said: “With the acquisition of Showyou we take a significant step forward in re-positioning Vevo as a best-in-class product-driven organization. Showyou allows us to accelerate our pace of innovation with the ability to rapidly add new and differentiated features as we iterate our products in 2016 and beyond.”
Showyou launched in 2011 and streams video content from various hosting sites such as YouTube, Reddit, Buzzfeed, Vice and of course Vevo. Seven out of the ten employees at Showyou will be joining Vevo as part of the deal.
Founder and president of Showyou, Mark Hall said: “With the streaming media segment still very much in its infancy I believe we have a tremendous leadership opportunity in front of us as we combine forces and become part of Vevo. Showyou’s capabilities, combined with the breadth and scale of the Vevo platform, will enable us to create an exciting new class of products that should delight both music fans and artists.”