Vevo is looking to grow its Internet music-video business in Latin America markets, inking a pact with Internet Media Services (IMS) to act as its ad rep in the region.
Vevo will work with Miami-based IMS to sell ads in Mexico and Latin American countries including Chile, Argentina, Colombia and Peru. The companies will offer marketers contextual targeting of Vevo viewers by music genre, artist and other variables. Additionally, Vevo’s original productions on emerging artists will provide local brand-integration opportunities.
In the past year, Vevo has seen tremendous growth in Mexico, which is now its second-largest market in terms of views after the U.S. In June 2015, Mexico accounted for 1.4 billion of the service’s 11 billion monthly views. Two-thirds of mobile users in Latin America are familiar with Vevo, and more than half of Vevo’s mobile viewers say the service is an important part of their daily use, per a comScore survey commissioned by IMS.
“There’s immense potential for Vevo in Mexico and other Latin American countries, and we’re excited for IMS to help us better communicate with advertisers locally, and across Latin America,” said Nic Jones, Vevo EVP of international.
Vevo, launched in 2009, is majority-owned by Sony Music Entertainment and Universal Music Group, with minority stakes held by Google and Abu Dhabi Media. This spring the company hired Erik Huggers, former head of Intel’s OnCue Internet TV division, as president and CEO, replacing Rio Caraeff, who has since joined augmented-reality startup Magic Leap as chief content officer.
Earlier this month, Sony Pictures Television acquired a 51% stake in IMS for about $100 million, as the studio also aims to expand its LatAm digital presence.