Erik Huggers, the exec who led Intel Media’s attempt to create a virtual MVPD, has joined Vevo as president and CEO, succeeding Rio Caraeff, who departed Vevo late last year, according to multiple media reports.
Huggers, being named to the slot as Vevo makes its Newfronts presentation Thursday, left Verizon Communications in mid-2014, about five months after the telco struck a deal to acquire OnCue, the advanced video assets that Intel had developed to form the basis of what was to become an provider of over-the-top pay TV services. He is also late of BBC, where he helped to launch its iPlayer service, Microsoft and Endemol.
Vevo, primarily backed by Universal Music Group and Sony Music Entertainment and launched in 2009, currently offers a library of about 140,000 HD music videos, including some exclusive original programming.
"The Vevo team has built the leading video service that has been embraced by passionate music fans around the world," Huggers said in a statement. "I believe there is great potential in accelerating innovation to delight audiences with new product features and premium content."
Huggers will be tasked for seeking growth beyond outlets such as YouTube, and possibly pursue strategies to help Vevo’s investors get a return via an IPO, Bloomberg reported, citing an unnamed source.
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