NEW YORK, April 30, 2015 /PRNewswire/ -- Vevo, the world's leading music video entertainment platform, announced today that Erik Huggers has been named president and chief executive officer, effective immediately.
Huggers, a leading digital media executive who has led the creation of digital video platforms and services at Verizon, Intel and BBC, will build upon Vevo's global footprint as the most visited destination for music videos. He will focus on innovating across product, programming and branding and further developing relationships with audiences and brand partners.
In a statement, Universal Music Group and Sony Music Entertainment, on behalf of the Vevo ownership group, said, "We are enormously excited about the future of Vevo under Erik's leadership. We are committed to continued support and investment in the long term success of the company. Vevo has developed into the world's music video leader that reaches music fans on all devices. With a proven track record of innovation, Erik has the perfect skillset to grow the Vevo business."
Erik Huggers said, "I am truly grateful to Vevo's owners for this incredible opportunity. The Vevo team has built the leading video service that has been embraced by passionate music fans around the world. I believe there is great potential in accelerating innovation to delight audiences with new product features and premium content. This is an exciting new chapter for myself and Vevo."
Most recently, Huggers was a Senior Vice President at Verizon Communications Inc., where he was also President of the company's recently acquired OnCue business. Huggers developed OnCue at Intel, where he was President of the company's media division from 2011 to 2014. Prior to joining Intel, Huggers was an executive board member responsible for the BBC's Future Media & Technology division, where he launched BBC iPlayer, one of the first premium online video services. Before the BBC, Huggers held senior roles at Microsoft Corp. and at Endemol Entertainment.
Delivering nearly 100 billion streams across its distribution platform annually, Vevo has generated hundreds of millions of dollars in revenue, growing its business at a rate of over 50% year-over-year since 2010. It also has invested more than half a billion dollars in music video programming through royalties paid to rights owners, artists and songwriters. Since Vevo's launch, 468 music videos from more the 170 artists have generated over 100 million views each. In addition, Vevo has built strong relationships with sponsors and brand marketers, working closely with over 900 global advertisers representing 50% of the world's top 100 marketers who spend across Vevo to reach the largest audience of passionate music fans.
Vevo is the world's leading all-premium music video and entertainment platform with over 11 billion monthly views globally. Vevo brings a library of 140,000 HD music videos, exclusive original programming and live concert performances to everyone on the planet who loves music. Viewers can watch on-demand through Vevo.com, the mobile web and apps for mobile/tablets and TVs, or through Vevo TV, the always-on broadcast-style linear music channels built by expert human programmers. Additionally, Vevo syndicates its catalogue to hundreds of sites across the web giving music fans the option to view their favorite programming anywhere, anytime. It is Vevo's massive scale and reach that has attracted more than 900 brand marketers around the globe since its launch in 2009.