Vevo is No. 3 -- with a bullet.

The red-hot music site, a joint venture between Sony Music Entertainment and Universal Music Group -- with investment from Abu Dhabi Media and backing from Google's YouTube -- reached 48 million unique users in June, per comScore. That makes it the third-largest video site on the Web, trailing YouTube and Yahoo.

The venue -- which went live eight months ago -- has seen its user base grow steadily. According to company officials, Vevo now delivers 1 billion views globally every month.

In the U.S., the site appears to be reaching a broad cross section of viewers, as an impressive one in four Web users has logged on to the site, per figures compiled from comScore and YouTube Content Manager.

The site has also quickly penetrated the Hispanic and younger Web demographics. Vevo executives claim that the venue now reaches 27 percent of the U.S. Hispanic audience, or 7.4 million Hispanic users, and one in three U.S. video viewers age 18-34.

That growth positions Vevo especially well in the exploding online video market. This year, two-thirds of U.S. Internet users, or 147.5 million people, will watch some form of online video content at least once per month, according to eMarketer. By 2014, the number of U.S. online video viewers will represent 77 percent of Internet users, or 193.1 million people, according to eMarketer's forecasts.

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