Kicking off this week, sponsorship deal includes new Vevo music videos and original content of live artist performances
NEW YORK–(BUSINESS WIRE)–Credit Karma Money™, a single destination within Credit Karma for spending and saving1, has partnered with Vevo, the world’s leading music video network, to sponsor music videos by artists with a strong Gen Z fan base.As part of the custom advertising deal, Credit Karma Money will receive top billing for highly anticipated, upcoming Vevo Official Live Performances (a Vevo-produced original series) featuring some of the biggest artists today.
Credit Karma launched Credit Karma Money to help everyday consumers organize finances, create better financial habits and get access to money faster. Credit Karma has more than 1 in 2 U.S. millennials on the platform, and the company recognizes the importance of now helping Gen Z make financial progress with Credit Karma Money. This partnership will enable the company to reach a younger generation of music fans right where they are: watching the latest from the hottest artists of the summer on Vevo.
“Credit Karma Money seeks to change Americans’ relationship with money. For some, a checking or savings account may be their first financial product, so in many ways, we built Credit Karma Money with Gen Z in mind,” said Poulomi Damany, general manager, Credit Karma Money and Tax. “If you think about it, entertainment and news are one and the same for most of Gen Z who tend to rely on social media and short video content for information about the world around them. Vevo, the go-to destination for millions of consumers to discover new music videos by their favorite artists, is a key part of our strategy to introduce Credit Karma Money to the next generation of consumers — Gen Z.”
Internal Vevo research (Vevo Media Tracker, fielded in Q1 2021) shows that more than half (52%) of Gen Z consumers say it is important to them to watch culturally relevant content, or content that is aligned with their personal identity, language, ethnicity, nationality, etc. 62% of Gen Z consider the music videos they watch are highly culturally relevant, more so than any other genre of content.
Additionally, Vevo found that Gen Z are more likely to be cord-nevers/cutters/shavers than the total population (48% vs. 42%). 94% of Gen Z are watching streaming video content and more than half (56%) do so for at least 2 hours per day. 79% of Gen Z are also daily YouTube viewers, with 31% using YouTube almost constantly throughout the day.
“‘Music videos’ and ‘financial services’ are not often paired together, but few media networks offer the type of star-driven content that younger consumers seek out and engage with daily. Vevo, however, reaches roughly half of the U.S. population and more than two-thirds of our viewership are between the ages of 18-49 years, most of which are not watching traditional broadcast TV. Our catalog provides Credit Karma Money the right audiences and an optimal environment for upper funnel marketing that helps build brand awareness and loyalty among future savers,” said Jesse Judelman, senior vice president, sales, Americas, Vevo. “We are excited to partner with Credit Karma Money to help them get in front of hard-to-reach, digitally native Gen Z consumers.”
Recent U.S. Census Bureau data estimates that Gen Z, a generation which has been shaped by technology and connectivity, makes up more than 20% of the U.S. population. Gen Z incomes are projected to balloon over the next 10 years to almost $2.0 trillion in 2030, and Gen Z spending is set to increase to $1.9 trillion by 2030.
Vevo is the world’s leading music video network, connecting an ever-growing global audience to high quality music video content for more than a decade. Founded by Universal Music Group and Sony Music Entertainment in 2009, Vevo offers fans worldwide a vast array of premium content to choose from, showcasing official music videos alongside a constantly developing lineup of live performances and innovative original programming. From top superstars to rising new talents, Vevo brings incomparable cross-promotional support to artists across the musical spectrum, at every stage of their careers.
Vevo has consistently evolved over the past decade to lead within today’s ever-changing media landscape, embracing partnerships with a number of leading distribution platforms to deliver extraordinary content within ad-supported environments. With more than 26B views across television, desktop and mobile devices each month, Vevo brings music videos to the world – when, where, and how fans want them.
Vevo is available on YouTube, Samsung, Samsung TV Plus, Amazon Fired TV, Amazon Echo Show, PlutoTV, Apple TV, Roku, Comcast (Xfinity X1 and Xfinity Flex), VIZIO, Sky (NowTV and SkyQ), Foxxum, XITE, NetRange, Redbox, T-Mobile Play, Virgin Media, Xumo, Telstra and Vewd.
About Credit Karma
Founded in 2007 by Ken Lin, Credit Karma is a consumer technology company with more than 110 million members in the United States, U.K. and Canada, including almost half of all U.S. millennials. While best known for pioneering free credit scores, the company’s members turn to Credit Karma for everything related to their financial goals, including identity monitoring, applying for credit cards, shopping for loans (car, home and personal), savings accounts and now checking accounts through our bank partner, MVB Bank, Inc., Member FDIC — all for free. Learn more about how Credit Karma members are making financial progress on Instagram, Facebook and Twitter.
About Credit Karma Money™
Credit Karma Money is a new money experience from Credit Karma, the personal finance platform more than 100 million Americans already trust. Credit Karma Money Save accounts are free, interest-bearing savings accounts with no fees, no minimum to open and no catches. Newly launched, Credit Karma Money Spend accounts are checking accounts free to open with features like up to two-day early access2 to paychecks and Instant Karma™, which incentivizes good spending behavior by giving members a chance to win back their money3 when they spend cash they already have in their accounts. To open an account, visit CreditKarma.com/checking.
Banking services provided by MVB Bank, Inc., Member FDIC. For Credit Karma Money Save and Spend: Maximum balance and transfer limits apply per account. Third party fees may apply. Please see Account Terms & Disclosures for more information.
Early access to paycheck is compared to standard payroll electronic deposit and is dependent on and subject to payor submitting payroll information to the bank before release date. Payor may not submit paycheck early.
NO PURCHASE NECESSARY. Spon. by Credit Karma, LLC. Ends last day of month. Entrants must be at least age of majority & legal resident of 50 US or DC (except FL & NY). Void where prohibited. To enter, use appl. debit card or enter by mail to Credit Karma, LLC, PO Box 30963, Oakland, CA 94604. Official Rules at creditkarma.com/lp/sweepstakesrules-checking#instant