PORTLAND, Ore.--(BUSINESS WIRE)--Vadio, the first full-scale distribution platform for music video content and ads online, today announced that it has closed a $2 million seed funding round with backing from leading music, entertainment and technology investors including Ed Wilson, former President of NBC Enterprises; Robin Richards, former CEO of Vivendi Universal Net USA; Marc Geiger, Co-Founder of Lollapalooza and Partner at William Morris Endeavor; Irwin Federman, Partner at US Venture Partners and former board member of the National Venture Capital Association; Mucker Capital; and Amplify.LA. The company has also announced the launch of its partnership with Vevo, the world’s leading all-premium music video and entertainment platform.
Viewership of music videos online in the U.S. has increased more than 800 percent during the last six years, making it one of the most popular forms of content. However, leading online streaming music services and terrestrial radio stations only provide users with options for streaming audio and static displays. With its newly launched partnership with Vevo, Vadio is able to bring Vevo’s more than 100,000 music videos, live concert events and original programming to online radio and streaming music platforms, providing high-quality videos in real time with all rights managed. Vadio’s additional partnerships with other leading media and entertainment companies such as Virgin Radio, European Media Group and Grupo Radio Centro, allows the company to provide a vast amount of content through curated feeds, so people can stream hours of music and videos from their favorite artists around the globe.
“Music videos are one of the most popular and engaging forms of content online, but they have yet to be available where consumers prefer to access music – online streaming platforms – creating a big disconnect,” said Vadio CEO Bryce Clemmer. “There is a tremendous opportunity to evolve the way millions of consumers around the world listen to music. We’ve developed a platform that delivers music video content to the sites and services people enjoy most. Our recent funding round and partnership with Vevo will enable us to scale even faster and deliver a cutting edge experience for everyone - ranging from music fans to streaming services to radio stations and record labels.”
“It’s rare to find a company that is able to address the needs of multiple groups within the music industry – record labels, artists, and streaming music companies – but Vadio has come up with a solution that helps everyone,” says Robin Richards, former CEO of Vivendi Universal Net USA. “The dramatic growth in desire for music video content globally is creating the need and potential for a major shift in the industry. With a solid team of leaders in tech and music, there is an opportunity to build a significant global company and we are excited to be working with Vadio on this vision.”
Vadio is the first platform to enable online streaming music services, traditional radio stations and other entertainment sites to play millions of music videos from their favorite artists and serve engaging video ads at significant scale. The company’s technology detects what songs listeners are playing live and then plays the corresponding music videos in real-time. Streaming music and terrestrial radio stations can embed channels into websites, mobile applications, and other digital platforms to create a curated feed of music videos that helps increase user engagement and creates new video ad inventory that is available in minutes.
“Streaming music platforms and terrestrial radio stations have created great services, but have struggled to generate profits. We’re going to help them become successful businesses by providing stronger engagement opportunities and better monetization,” continued Clemmer.
Through its partnerships with streaming entertainment platforms, Vadio is able to provide strong distribution to content owners while creating and managing video advertising inventory. The company’s services are currently available in fifteen countries across the globe and recently launched in Australia with Lachlan Murdoch’s Nova Entertainment. For more information visit www.vadio.com.
Vadio is creating beautiful and meaningful experiences for digital media. Vadio currently powers online video players for media companies across four continents and is headquartered in Portland, Oregon, with an office in Los Angeles, CA. The company was a member of Amplify.LA in Los Angeles and PIE, a startup accelerator run in collaboration with global advertising agency Wieden+Kennedy. For more information, visit http://vadio.com/.