This week, Vimeo presented its latest set of exclusive programs. The website is only the newest example in a long series of streaming platforms entering the original programming market, following companies like Netflix or Amazon Prime.
The most essential factor for Vimeo is differentiating its offering in the market, say the company’s officials about how the team selects which content gets the green light. They are going into different directions, so they wanted to discover a method to encourage their creators and further their visibility and professions by making an investment in material from independent producers.
Google’s YouTube follows the same strategy as Vimeo, providing some of its best content makers money to create original programs and charging the audience to see them. YouTube Red, a service that was released in Feb, is similar to Vimeo’s innovative idea, but on much bigger scale.
Vimeo is a member in the giant digital consortium IAC and is making an investment around $10 million to bring its own material. Until now, neither Vimeo nor YouTube can rival with the $6 billion that Netflix announced it would invest in original program during this year.
The other difference between these two platforms, and an element that places Vimeo in a separate category from other streaming supports, is that this is not a subscription-based service. Instead having to pay a monthly fee of $10 for YouTube Red as long as they use the service, customers are only charged for the films and TV shows that they like to watch.
The price is usually around $5 or $10, based upon the length and budget of the video content. People can an additional price and purchase the material instead of just renting it. With all these websites increasing their presence and many maintaining their analytics to themselves, seeing their achievements can be rather difficult.
However, Vimeo’s representatives say that their three original programs that have been launched so far have surpassed their economical objectives. The essential factor is the interest of the content makers to proceed with this collaboration and the company’s capability to market and bring profit from these original online programs, they added.
Image source: Nritv