By James DeRuvo (doddleNEWS)
There’s an old saying that if you want to be rich in the age of gold hunting, you don’t look for gold, you sell the shovels and picks. That’s what Vimeo is now focusing on, by pivoting to providing content creation tools, rather than just a portal for streaming videos.
From being a destination for consumers to watch videos to really being a software as a service, or SaaS, platform that provides creators with the tools and technology to create, distribute and monetize their content. And we really think that this fulfills a need in the market where nobody else is focusing on the storytellers. – Anjali Sud, CEO, Vimeo
The bottom line is, that Vimeo was always going to be “the other guy,” in the streaming video game. While it was always known as the place where professionals placed their content, even those pro content creators posted their content on YouTube in order to build an audience. Vimeo’s cache was focusing more on the content creator, and not the content itself. So, rather than being a home for videos, Vimeo wants to be a provider of tools to make that content all it can be.
I think what no other platform really is doing is providing a workflow solution end to end … from the second you have an idea for a video, to how you get it made, to how you put it out into the world and then get that feedback loop to be able to make more videos.
To that end, Vimeo has acquired live video streaming portal Livestream. Livestream has over 10,000 paying subscribers who host over 10 million live events annually. Livestream will give Vimeo the clout and runway it needs to compete in the live streaming media game. Sud says that live streaming has been the number one feature that their professional clientele has wanted, and once the deal closes, Livestream will become Vimeo Live, a new feature available for all Vimeo Pro and Business level users.
Vimeo is also getting into the hardware game with MEVO Plus, a 4K camera that can provide multi camera support from a single source, and be switched and live streamed through a mobile device.
Other tools that Vimeo offers is Vimeo Video School. This collection of online videos offer content creators tips and tricks for mastering new skills, building an audience, and selling user content worldwide. There’s also a growing segment of 360 video production tutorials for those looking to make inroads into this emerging video genre.
Vimeo is also offering online collaboration tools for filmmakers all over the world to collaborate and create content. The main goal is to provide the tools for streamlining workflows and make collaboration simple with video review tools, private sharing, and integration with Adobe Premiere Pro and Final Cut Pro. Team collaboration offers ten accounts per project, but their video review tools have unlimited viewers.
Finally, Vimeo is offering analytics and marketing tools to sell your content and find distribution. Through Vimeo, users can launch their own subscription service, use third party video players to embed an showcase their content, and keep track of how well that content does through Vimeo’s Advanced stats and Google Analytics. Plus, there’s a social media portal to market your videos to the world.
“… what we hope is that we’ll be able to use technology to lower the barriers for quality storytelling because there’s so much friction and cost right now,” Sud told Marketplace. “The average creator has to use three or four different software providers. They have to pay often tens of thousands, sometimes hundreds of thousands, of dollars to get all the capabilities that we hope to be able to provide in the very near future.”