With YouTube iterating quickly and adding greater video monetization via its new RED subscription service, Vevo is stepping up its efforts to offer value to both video creators and fans.
Music video and entertainment platform Vevo has acquired Showyou, a curated streaming video provide. Details of the deal were not announced. The move will enable Vevo to quickly follow YouTube in adding subscriptions and other monetization opportunities for video creators.
Showyou offers tools and services that allow creators and viewers to connect through subscription and transactional video on demand. Some of the Showyou tech team is joining Vevo to speed the transition.
With the acquisition of Showyou we take a significant step forward in re-positioning Vevo as a best-in-class product-driven organization,” said Erik Huggers, President and CEO, Vevo. “Showyou allows us to accelerate our pace of innovation with the ability to rapidly add new and differentiated features as we iterate our products in 2016 and beyond.”
“With the streaming media segment still very much in its infancy I believe we have a tremendous leadership opportunity in front of us as we combine forces and become part of Vevo,” said Mark Hall, Founder and President, Showyou. “Showyou’s capabilities, combined with the breadth and scale of the Vevo platform, will enable us to create an exciting new class of products that should delight both music fans and artists.”
