Today Vevo, the online music video and entertainment platform owned by Sony Music, Universal Music Group and Abu Dhabi Media, has extended advertising opportunities for brand marketers with the launch of a new private audience advertising exchange.
Welby Chen, Senior Vice President, Sales & Revenue Operations at Vevo, explained on a phone call that since Vevo launched almost three years ago, brands have purchased advertising space on the site through the sales team directly. The private audience exchange opens up a new, technology-based platform, through which the company’s existing roster of 800+ brand marketing customers can bid on available inventory on their own. Over time, the exchange will be opened up to other potential clients for use as well.
The private audience exchange is a dynamic marketplace that works in real time, with the highest bidder taking control of pre-roll, overlay or display unit inventory.
Chen explains, “We will continue to grow our sales team and offer Vevo through our sales people, but now there’s another option, which allows us to meet and work with a broader range of customers that we may not have worked with in the past, and grow our revenue, while also maintaining different controls so we maintain the premium quality of our content.”
Chen says, “By launching our own private audience exchange, Vevo can maintain the premium marketing standards we’ve established within the extensive reach of our platform while more efficiently monetizing our video inventory and maximizing revenue. The exchange complements the work of our Sales team enabling Vevo to reach more brand marketers wanting access to our premium programming and our platform’s robust scale and reach.”
According to a press release, “With nearly 50 million unique video viewers each month in the U.S. (comScore Video Metrix, September 2012), Vevo is ranked number one in music, number two in entertainment and is fourth among overall online video platforms. Vevo’s fastest growing platform is mobile – with over 600 million views delivered by mobile and tablet worldwide in September. Vevo’s mobile and tablet apps have been downloaded over 21 million times.”
Megan O’Neill is the resident web video expert here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.