Music video management firm VEVO has paid more than $200 million to its artists since launching in 2009. The music service is responsible for managing the music videos and performances for thousands of artists around the world.
VEVO CEO Rio Caraeff spoke at the Business Insider Ignition Conference in New York City on Tuesday where he announced the company’s massive artist payments.
VEVO has streamed billions of video views thanks to artists that include Lady Gaga, Justin Bieber, Katy Perry and many others.
The music service earns money through pre-roll ads that stream once for every six to seven minutes of video watched per user.?
VEVO is best known for streaming high definition music videos, a job that once fell into the hands of MTV before it became a dumping ground for reality TV and stunt shows.
The mobile music platform has become so popular that it has launched its own apps for iOS and Android devices along with other major mobile platforms and the Xbox Live program.
You can find a full list of VEVO apps?here.
Currently VEVO supports more than 50,000 music videos and in September 2012 the company’s YouTube channel became the most popular offering on the video platform.
