Vimeo has unveiled a new way for creators to make money on their platform.
As part of a broader expansion that included the recent roll out their ‘On Demand’ video rental/purchase program, the service has launched new subscription tools that allow creators to put their entire channel behind a pay wall.
Creators retain complete control over their subscriptions, including the ability to set their own prices, restrict their content to certain geographic areas, and sell their videos on ‘Vimeo On Demand.’ This also includes the option to offer free videos or exclusive bonus videos for select users.
The subscription terms are also highly favorable towards creators, with 90% of subscription revenue (after transaction fees) going to the creators.
But it seems this is just the beginning of Vimeo’s subscription ambitions.
“Subscription video on demand (SVOD) is a natural extension of Vimeo’s transactional VOD platform, giving creators a new way to sell content to viewers worldwide, “Vimeo CEO Kerry Trainor said in a press release. “Online video is entering an exciting new stage where creators don’t have to rely on pre-roll advertising alone to earn money, and Vimeo is building the open global platform for paid video distribution.”
As they continue to build out the new platform Vimeo plans to introduce new features in the coming year to make the platform more attractive to film and television distributors, which appears to be their end-game.