By Stuart Schwartzapfel
Music video network Vevo reaches a billion daily views on average, making it an attractive destination for brands to leverage its cultural cachet. And with the proliferation of cord cutting and streaming TV viewing, Vevo has been rapidly expanding its OTT distribution to match changing consumption habits and deliver premium music videos to fans directly in the living room.
The music video powerhouse now finds itself approaching connected TV (CTV) juggernaut status. In fact, Vevo gained ten new TV partners in 2020 and saw its connected TV (CTV) viewership grow by 30% globally and 58% in the U.S. from 2019 to 2020.
Now that Vevo can be bought like TV, it’s essential it be measured like TV. That’s where iSpot comes in: Vevo has selected iSpot as its always-on TV measurement and attribution provider.
(Check out media coverage of today’s announcement in Next TV’s Broadcasting & Cable: Vevo Taps iSpot for CTV Audience Measurement.)
Utilizing iSpot’s tools, Vevo can prove its CTV scale with younger audiences, and distinguish these audiences from those viewing on other TV platforms — whether they be via cable or streaming.
This means iSpot is playing a critical role in helping Vevo realize the full revenue potential of its increased CTV impressions. We’re working closely with Vevo to authenticate the incremental reach of ad campaigns, and moving forward this will help them secure the maximum revenue yield from their hard-to-reach audiences.
Bryon Schafer, SVP, Research at Vevo, summed it up well in our official press release:
iSpot will play a key role in Vevo’s data-driven decision-making around its sales and monetization strategy for CTV, and we’re excited to deepen our relationship in the months and years ahead.