CEO Erik Huggers has said his goal is to position Vevo better as a competitor that can stand on its own as consumption of online video surges. Average usage will increase 20 percent to 57.6 minutes per day in 2016, according to an August forecast by Zenith Optimedia. The online video advertising market will grow to $19.8 billion worldwide in 2016.
Source: Vevo Buys Showyou Video Site in Step Toward Subscription Service – Bloomberg Business