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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Altaba Inc | NASDAQ:AABA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 19.64 | 19.12 | 19.61 | 0 | 01:00:00 |
From May 2019 to May 2024
By Chelsey Dulaney
Music-video company Vevo LLC said Monday that Chief Executive Rio Caraeff will leave the company at the end of the year to pursue other opportunities.
Vevo said it has hired an executive search firm to find Mr. Caraeff's replacement. Chief Finance Officer Alan Price will step into the role in the interim.
Vevo is jointly owned by Universal Music Group, Sony Music Entertainment, Abu Dhabi Media Co. and Google Inc. Launched in 2009, Vevo gets more than 8 billion monthly views and has a library of 100,000 HD music videos. The company has invested more than half a billion dollars in music video programming through royalties paid to rights owners, artists and songwriters.
Last year, Vevo signed deals with Apple Inc. and Samsung Electronics Co. to deliver on-demand music videos--plus a new channel of original, 24-hour-a-day programming--via Apple TV set-top boxes and Samsung television sets. The move to migrate Vevo's content from YouTube to television was part of Vevo's strategy to surmount its biggest challenge: getting fans to watch its videos and original content though the sites and apps it owns, not through YouTube.
Earlier this year, Vevo's owners pledged continued support for the company and its growth initiatives. In April, Vevo struck a deal with Yahoo to bring thousands of its music videos, live concert events and other original music programming to video channel Yahoo Screen.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
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