Vadio, the full-scale distribution platform for music video content and ads online, has closed a $2 million seed funding round with backing from 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 music video and entertainment platform.
“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 monetisation,” commented Vevo.
“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.”