Posted October 1, 201212 yr http://online.wsj.com/article/SB1000142405...1437461236.html The company was the brain child of former Universal Music Chief Executive Doug Morris, who was a frequent critic of the way MTV had built a lucrative business playing music videos that record labels gave the cable channel for free. Mr. Morris was determined not to let the same thing happen again in the Internet age, and built Vevo as a way to ensure the record labels sold the ads that played alongside their videos online. Vevo is expected to generate $280 million in revenue this year, according to one of the people familiar with the proposed sale, up from $150 million last year. 2011 revenue: $150 mil 2012 revenue: $280 mil (projection)
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