There's more in the article below, including the assertions that "Part of what we're trying to achieve is that element of nostalgia but 70% of our audience is under 34."
YouTube has now bought a 10% stake in VEVO.
Article source.
Vevo launches 24-hour digital music channel in US and Canada
Video website hopes to recreate MTV's 1980s heyday with service for internet-connected TVs, tablets and mobiles
Rihanna: likely to feature on Vevo TV. Photograph: Stuart Wilson/Getty ImagesThirty-one years after MTV flickered into life to the sound of the Buggles hit Video Killed the Radio Star, the video website Vevo has launched a 24-hour digital music channel in the US and Canada.
Vevo, the site created by record giants Universal Music and Sony, hopes to recreate MTV's 1980s heyday with the channel, showing a selection of music videos, live concerts and original programming.