Vevo, the online video joint venture between major music labels, will release a new app for Apple's (Nasdaq: AAPL) Apple TV, possibly by the end of the week, multiple press reports said. Apps for other devices such as Samsung-made TV sets could come within a month.
The Apple TV app will feature a linear 24-hour network as well as music videos on demand, the Wall Street Journal reported.
More than two-thirds of Vevo's traffic comes through YouTube, where Vevo must share ad revenue with YouTube and its parent company Google (Nasdaq: GOOG), according the Wall Street Journal. On a smart TV or Apple TV app, Vevo could keep all the ad revenue.
Putting music videos directly onto TVs would also give Vevo the chance to sell ads specifically made for TV, the Journal noted. Vevo already has apps through Microsoft's (Nasdaq: MSFT) Xbox and the Roku streaming device as well as on iOS and Android devices.
For more:
- the Wall Street Journal had this story (sub. req.)
- Bloomberg had this story
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