Speaking at the Code/Media conference yesterday, Huggers said that Vevo was looking to add a subscription service to compliment its ad-supported business. A Vevo spokesperson confirmed Huggers' comments, noting that while there's no launch timeframe or pricing details just yet, the company is working towards that offering.
"Today our business is all about ad-supported," Huggers said at Code/Media. "So we think that one of the important things -- we hear this throughout the industry -- is the move toward subscription. That's something we're interested in." Whether or not the company can be successful with such a service remains to be seen. YouTube Red gets you everything on YouTube ad-free, not just music videos; if Vevo wants to compete with it, its subscription service might need to come in at a lower price point.
The company's also been working on its own original music-related content. If it can get some noteworthy exclusives, that could also help drive the new business. It's a strategy that Tidal, Spotify and Apple Music have all used to varying degrees of success lately. However it plans on getting subscribers, it'll likely be a bit before we hear about the concrete business details.