Vimeo announces $10 million investment for creators
March 7, 2014 09.30 Europe/London By Robert Briel
VimeoVimeo returns to SXSW to celebrate the one-year anniversary of its Vimeo On Demand platform with a global expansion of support for creators selling their work directly online.
The $10 million (EUR7.2 million) investment will be used to provide creators of all levels and genres direct financial support and access to online marketing services—including website development and translation services—in exchange for distributing their content on Vimeo On Demand.
“Building on our early content investment programs, we’re excited to announce this broad expansion of resources to support creators,” said Kerry Trainor, CEO, Vimeo.
“The direct distribution movement gains momentum every day, and we are fully committed to empowering creators with a vibrant alternative to the ad-dominated online video ecosystem for monetizing content.”
The $10 million fund will include expansion of crowdfunding programme: Vimeo is expanding on its crowdfunding program announced at the 2014 Sundance Festival by extending access to part of its $10 million fund to select titles that have successfully raised $10,000 or more through a leading crowdfunding platform in exchange for an exclusive window on Vimeo On Demand.
Also an expansion of Film Festival Programme: Building on its 2013 Toronto Film Festival programme, Vimeo will use the $10 million fund to offer guaranteed funding in exchange for an exclusive distribution window to any film that has premiered at one of the 20 leading global film festivals throughout 2014.
Expansion of title and catalogue acquisitions: Vimeo will work with filmmakers and distributors to accelerate its investment in quality individual titles and catalogs suited to Vimeo’s unique audience.
Vimeo PRO Grants: in addition to direct financial support for exclusive distribution partnerships, filmmakers that have successfully raised $10,000 or more through crowdfunding or have had a film premiere at one of the 20 leading global film festivals in 2014 will be granted one year of Vimeo PRO for free with distribution on Vimeo On Demand.
“Since the launch of Vimeo On Demand we have seen success across a wide range of content from narrative to documentary, action sports to education, series to instructional video,” said Greg Clayman, general manager, Audience Networks.
“Vimeo On Demand is a powerful new path that enables creators worldwide to charge a premium for their content uninterrupted by ads they don’t control.”