×
You will be redirected back to your article in seconds

Vevo Hit by CTO Exit, Product and Engineering Team Layoffs (EXCLUSIVE)

Music video platform Vevo has had significant layoffs, and lost another key executive, roughly four months after the departure of its CEO: CTO Alex Nunes left the company in recent weeks, which subsequently made significant cuts to its San Francisco-based product and engineering teams, Variety has learned.

A Vevo spokesperson confirmed staff cuts in a statement sent to Variety Friday:

“We can confirm there has been a reduction of personnel across the Product & Engineering teams at Vevo. This decision allows for greater focus to drive increased growth in the promotional and commercial value of videos. This will build on what was a very strong 2017 for us with growth in the scale and reach of the music video.”

Vevo is now working on creating a new product and growth team helmed by its VP of engineering, Andy Smith, under Vevo senior VP Will Jackson, the company’s spokesperson said.

These layoffs come four months after former Vevo CEO Erik Huggers left the company, and three months after the company’s head of product Mark Hall left for a new job at Bandcamp. A number of other product and engineering staffers left as well over the past few months, according to sources close to the company.

When Huggers joined Vevo back in 2015, it had been primary focused on distributing music videos from its major-label owners Universal Music and Sony on YouTube. Under Huggers, the company massively expanded its San Francisco operations, and put a big emphasis on building out its own apps separately from its YouTube presence.

Some of these efforts included revamped mobile apps as well as apps for Roku, Fire TV, Xbox One and PlayStation 4. Huggers was also looking for other monetization strategies for Vevo content, and at one point even floated the idea of a music video subscription service.

However, Vevo continued to bring in the vast majority of its revenue via it’s YouTube partnership. Now, all signs point to a course correction to focus on its distribution relationship with the Google-owned video platform, which puts the future of Vevo’s own apps in question.

More Digital

  • jfk mooonshot ar app artwork

    JFK Presidential Library Releases Moon Landing Augmented Reality App

    The John F. Kennedy Presidential Library has released an augmented reality app (AR) to commemorate the 50th anniversary of the moon landing, and the role President Kennedy played in getting the U.S. to the moon. The app, which is available for free for iPhones and Android, lets users relive the Apollo 11 mission in their [...]

  • hdhomerun roku app

    HDHomerun App Brings Live TV to Roku Devices

    Roku users are getting another way to watch live television with the help of their favorite streaming devices: Silicondust, maker of the HDHomerun TV tuners, has released a beta version of its HDHomerun app for Roku TVs and streaming devices. “We need to start out by saying this is very much a beta product,” the [...]

  • Vox Media

    Vox Media Staff Ratifies First Union Contract, Negotiated by Writers Guild

    Staffers at Vox Media, which includes Curbed, Eater, Polygon, Recode, SB Nation, The Verge and Vox.com, have ratified their first collective bargaining agreement with more than 90% in support. The staffers are represented by the Writers Guild of America East. Vox Media’s 350-member unit began bargaining their first contract in April 2018. The campaign to [...]

  • Joslyn Davis, Lily-Marston - Shared Media

    Clevver’s Joslyn Davis, Lily Marston Launch Their Own YouTube Media Venture (EXCLUSIVE)

    Here’s the latest chapter in the saga of Clevver, the entertainment/lifestyle YouTube network marooned by the shuttering of former parent Defy Media and subsequently snapped up by Hearst Magazines. Two of the principal creatives behind Clevver — Joslyn Davis and Lily Marston — together with Clevver Media co-founder Jorge Maldonado have launched Shared Media, their [...]

  • Money-Diaries-Refinery29

    Refinery29 to Produce Interactive Series Funded by Eko (EXCLUSIVE)

    Refinery29 has been bitten by the “Bandersnatch” bug. The millennial-female-focused digital media and entertainment company inked a pact with Eko, an interactive-video platform developer whose backers include Walmart, to produce several “choose-your-own-adventure”-style series based on Refinery29 content properties. The companies have started development on their first project: an interactive scripted adaptation of Refinery29’s popular “Money [...]

  • Dan Howell

    YouTube Star Dan Howell Comes Out as Gay: 'It Gets So Much Better'

    It’s Pride Month, and popular YouTube vlogger Dan Howell had a message for fans that he’d been working on for a year: “Basically, I’m Gay,” he shared in a video Thursday. In the 45-minute video, Howell discussed coming to terms with his sexual orientation and his thoughts on labels that people use to define themselves [...]

  • Netflix Expands Korean Content Commitment

    Netflix Expands Korean Content Commitment as Industry Deepens

    Global streaming giant, Netflix is expanding its involvement in the Korean film and TV industries by greenlighting several new shows and renewing others. “When we started three years ago, we had a high degree of confidence that Korean drama would work well in Asia, but we had no internal metrics of our own,” Korean content [...]

More From Our Brands

Access exclusive content