Vimeo stock video marketplace is a new platform that has just been launched by the video-sharing site. Through this new project, Vimeo is shifting its business strategy by adding the sale of software products.
Vimeo stock marketplace to allow creators sell content
Vimeo stock marketplace will enable its community members to create and sell videos to various clients. Clients may consist of agencies, businesses, marketers or even third-party producers.
Vimeo has transitioned its business in the last one year. It has grown from being a mere viewing site to a technology network. Consequently, it will now provide producers with the necessary tools needed to create a high-quality video.
The firm’s CEO Anjali Sud shared his sentiments, “Today 100% of our business model is software as a service, like a Dropbox or a Slack. We just saw so much organic growth from the software tools side among the creators that it became a no-brainer that this is what we should focus on.”
Vimeo is set to start selling a software product called Vimeo Stock. The software aims at helping producers assess videos on stock. It will consist of a huge library of videos that will include exclusive creators’ content. Vimeo Stock will also feature technological products that will enable individuals optimize content on several social media sites. The tool will be bought via a subscription package. However, users who will not utilize every service may choose to buy individual parts of the tool.
Content that is not exclusive will be sold at $79 for HD clips whereas 4K clips will go for $199. On the other hand, exclusive content will retail at $299 for HD clips while 4K clips will be sold at $499.
Meanwhile, users holding a Vimeo membership will benefit from a 20% discount on all the content they buy. Additionally, they are allowed to utilize all the videos commercially.
Contributors of Vimeo Stock will also earn not more than 70% of the revenue earned from their own clips. This rate is much better than Shutterstock’s rate which gives creators only 30%.
Vimeo boasts over 240 million visitors per month, who watch videos on its site. Furthermore, 800,000 users tap on its creators’ tools.