The most obvious and general reason for companies and artists to create music videos is for the profit they make on them. However other reasons include enjoyment, and doing the thing that they love. In the case of the artist it is about showing off their talent for singing and possibly dancing too. Where as in terms of the production company it is about them doing the thing they love too. Media production and working with the aritsts.
The purpose of the music video itself is to advertise and get peoples attention for the artist to make them more popluar with the public, the better the video is, the more popular the song will be, and then more people will buy it and therefore they will gain more money from it.
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