Vimeo invests $10million in creatives7 March 2014
Vimeo has announced a global expansion of support for creators selling their work directly online. The $10 million investment will be used to provide creators with financial support and access to online marketing services, including website development and translation services, in exchange for distributing their content on Vimeo On Demand.
The $10 million fund will include a number of programmes. Vimeo’s development of its crowdfunding programme will involve extending access to part of its fund to select titles that have raised $10,000 or more through a crowdfunding platform in exchange for an exclusive window on Vimeo On Demand.
“Building on our early content investment programmes, 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 monetising content.”
The company will also use the investment 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. In addition to this, filmmakers that have achieved this will be granted one year of Vimeo PRO for free with distribution on Vimeo on Demand.
Greg Clayman, general manager, Audience Networks, added: “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. 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.”