Vevo is amazing for watching the latest music videos, but now it wants to offer on-demand options to customers direct from their TVs. Yes, this option is already available if you own a smart TV with YouTube access, but it wants to try an old-school VH1 or MTV approach by offering a channel with a 24-hour stream of music videos, in addition to content that can be played whenever you want, The Wall Street Journal said.
It’s currently trying to court both Apple and Samsung, with the goal of ending up on the Apple TV and inside of Samsung’s Smart TVs. Both already offer access to YouTube, which is one way of accessing on-demand Vevo content, though the 24-hour stream is not currently available anywhere. Also, Vevo wants to take its reliance off of YouTube, The Wall Street Journal said, because Google eats up a share of its revenues through that route. Vevo even hopes it can secure deals with cable providers to have its own channel on cable TV, though we have to wonder: if that didn’t end up working for MTV and VH1 in the long haul, what can Vevo do to change things up?
That’s where it gets interesting. Apparently the video channels of yore didn’t share revenues with record companies when they played music videos. That business model relied on getting the word out about new songs, which hopefully would ultimately boost record sales. This time, Vevo wants to share its revenues with record labels and artists. Also, promoting video content could not only lead to album sales, but purchases of the music videos on other devices.
We imagine a subscription-based model would be compelling. What if we could pay $2.99 per month, for example, for access to that 24-hour stream of content? It could work like Pandora on the free-side, too, with ads between music.
We wonder: how long before Vevo starts offering its own shows, the way MTV and VH1 sold out? Pop Up Video anyone?