With streaming music the new high-growth segment in digital music, there are expectations on music video network Vevo to put up good numbers every month. But is the company delivering? Well, maybe. Read on.
Vevo's comScore July numbers -- incomplete as they are -- were not flattering. Unique U.S. viewers declined 2.9% to 44.8 million while videos streamed increased 0.4% to 597.1 million. Considering the gains made by other sites in July, Vevo looked a bit anemic.
Led by YouTube, Google sites' unique visitors and streams rose 1.6% and 7.2%, respectively. Vevo actually fell to #4 in terms of both unique viewers and total streams.
But there's more than meets the eye. comScore's numbers reflect only U.S.-based streams from web browsers, and that's becoming more and more an old-fashioned way of looking at streaming media. So, by this measure Vevo doesn't get any credit for adding unique viewers and streams in mobile apps and connected TVs (which includes video game platforms).
Vevo wouldn't share specific U.S. numbers, but a representative would say Vevo got 444 million video streams globally in July and "nearly 450 million" across mobile, tablet and connected TVs in June. But Vevo is about get more granular with its numbers soon: the representative said Vevo will soon release its quarterly metrics report for the second quarter of 2012.
It's worth paying close attention to Vevo's numbers and month-to-month trends in online music video. Vevo is part of a wave of ad-supported streaming media that represents an important future for the music business. Download purchases are slowing. Subscription services and ad-supported streaming are the new growth segments.
Vevo is growing regardless of what comScore says is happening in the U.S. It's a young, increasingly global company that expanded to Brazil earlier this month and Australia and New Zealand in April. It plans five more European countries before the end of the year. A few negative reports from comScore doesn't change any of that.