40 Under 40: Rio Caraeff, Vevo


CEO, Vevo


Rio Caraeff, 38, built Vevo into a powerhouse—and himself into one of the most powerful people in the music business—by giving Americans computer and mobile access to popular music videos. Now his sights are set on TV and international growth. In the past year, Vevo has expanded its focus on larger screens and programming appropriate for leaning back. Vevo teams are making apps and services for TV and longform programming like original shows and “linear” channels that continuously stream content. In addition, Vevo will launch on at least six more TV platforms later this year. Generating revenue beyond the United States is another priority. Caraeff wants to expand Vevo from 12 to 20 countries by the end of the year. Revenue will follow: Vevo’s non-U.S. revenue grew from less than 5% in 2010, its first year of operation, to 37% in 2012. Caraeff notes that about 50% of revenue will come from outside the States next year. “The biggest upside,” he says, “is to figure out how to monetize international consumption.”