Vevo revenue up 30% in 2017

Vevo’s revenues increased by 30% in 2017 and reached USD 650 million. The company said that it will be profitable by early 2018, according to a report in the Financial Times.
Vevo increased its revenues “thanks to swelling global audiences for high-budget pop star videos”, said the report. The company’s collection of music videos attract 25 billion views a month, up 30% from the last reported figure of 19 billion.
According to Vevo, advertisers have moved to its platform after pulling its ads from YouTube when they found that their campaigns appeared alongside extremist or offensive content. Vevo is a joint venture between Universal Music, Sony Music, Google and Abu Dhabi Media.