One Smart (TV) Call For Vevo; One Giant Leap For Music Videos

Vevo chose the latter path and Kevin McGurn the company39s president of sales and distribution is crystal clear it was the right one Before this week wraps up he39ll join fellow senior executives to invite advertisers and media buyers to direct more of their 202021 budgets in the same direction That stage the annual IAB 2020 NewFrontsquotWe39ve become a very simple opportunity for people to shift dollars from TV into what we think is just enhanced TV or advanced TVquot McGurn elaborated in the midst of his preNewFront Jack Myers Leadership Conversation last week quotWe want to have a top of the funnel and bottom of the funnel mentality and have a multicultural and local and programmatic opportunity for anyone to buy and however they would likequotWith a catalog of more than 450000 music videos covering genres from hiphop to hard rock Vevo39s adsupported service now runs through many smart TV sets and products in linear and ondemand formats Moreover that dedicated YouTube channel is getting more play through TV sets than via other platformsIn each of the last two years the service has increased viewership by 40 percent and currently is on a 30 percent growth track in 2020 Eighty percent of Vevo39s audience is adults 18to49 Average viewing time per session 60 minutes or moreMcGurn called the smart TV switch an interesting ride quotThe technology is finally catching up with how users want to watch their video Not just music video but all types of videos TV shows and moviesquot he said quotSo we39ve been able to pace with the innovation that these original equipment manufacturers have put into the market and start to give the control back to the viewer for what they want to watchquotThis will be the first time in a great while that Vevo has made its case before a NewFronts crowd McGurn and colleagues will bring some star power to its presentation thanks to international superstar Katy Perry Vevo39s top alltime female artist quotShe39s a huge fanquot he adds quotA huge supporter of ours over the years She39s an absolute pro She has a very authentic view of what our business does for the artist communityquotWhy return to the NewFront scene quotWe had to make a big effort to remind the advertising community of music videos39 place in culturequot answered McGurn quotFor the first time we don39t have to rent out Carnegie Hall or Radio City Music Hall to have a highlyproduced event with videos and celebrities We can reach advertisers and remind them that the viewership is actually much more than it ever wasquotAnd at the same time remind the ad community that Vevo is dedicated to drawing the public to new and veteran talent alike and cultivate a more diverse rainbow of music idioms quotHiphop has been a huge part of our business but also you see the rise of Latin musicquot McGurn explained quotThis is a global phenomenon that is not specific to any one geography or any one culture We39re trying to give the opportunity for fans to discover new music and new genresquotUnilever a participant in an earlier Leadership Conversation is quota really good example of somebody who takes advantage of us on multiple levels including the multicultural budgets they put into the marketquot adds McGurn quotThese are smart folks with mixed marketing models they know how to affectquotWith artificial intelligencepowered voice features becoming mainstream in smart TV products Vevo anticipates the introduction of interactive content and commerce over the near future Count on more firstrun videos and original programs exploring social themesquotArtists are the most creative people in the world They produce content more rapidly than any other mediaquot McGurn concluded quotThey are always the most recent and loudest voice that we can point to and that39s what we39re here for We get to fly in the stratosphere so close to these geniusesquotAll Jack Myers39 Leadership Conversations are available 247 ondemand hereClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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One Smart (TV) Call For Vevo; One Giant Leap For Music Videos

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Simon Applebaum

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