VEVO May Launch Paid Music Video Subscription Service

vevo-may-launch-paid-service

Music video streaming service Vevo could soon be the latest streaming company to move toward a subscription-based business model.

Vevo users may have the option of signing up for a paid version of the service before the end of 2016, the seven-year old company’s CEO, Erik Huggers, said at Re/code’s Code/Media conference on Wednesday. “Today our business is all about ad-supported,” Huggers told Re/code. “So we think that one of the important things—we hear this throughout the industry—is the move toward subscription. That’s something we’re interested in.”

Huggers didn’t offer any specific details on how much a paid version of Vevo would cost users, or if the service would continue to offer a free tier.

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SOURCE: TIME; Fortune, Tom Huddleston, Jr.