Vimeo Pledges $10 Million for Creators Using Vimeo On Demand | VideoInk
Prince Boucher stashed this in Hollywood
This investment will provide an example of how peer-to-peer distribution is the future of Hollywood.
Fascinating to watch Vimeo become the platform for independent film makers:
Last March, Vimeo launched Vimeo On Demand, which allows filmmakers to sell their work directly to fans, with the company only taking a 10% cut of all sales. This was followed by the company’s film festival program, introduced at the Toronto International Film Festival, where filmmakers were offered a $10,000 advance in exchange for putting their films exclusively on Vimeo for a limited time (30 days or until the investment is recouped). Then came Vimeo’s crowdfunding program, which set aside half-a-million dollars to help select filmmakers market their projects, once again in exchange for Vimeo having limited-time exclusive rights to distribute said content.
In addition to all of this, Vimeo On Demand offers filmmakers greater control over how they market and sell their content. Features include geo-blocking, the ability to set pricing, and even in-player transactions.
“The power of distribution is moving closer and closer to the filmmakers themselves,” says Greg Clayman, GM of audience networks at Vimeo. In the past, filmmakers had to rely on selling the rights to their content to someone else and hope that said distributor knew what to do with it, he says. What Vimeo is pitching, is the ability for filmmakers to oversee all aspects of distribution and monetization.
What Vimeo is providing, is assistance where its needed the most: the bank account.
The new $10 million fund is an expansion of the earlier festival and crowdfunding programs. Vimeo has a list of 20 festivals where it plans to be active. It includes staples like Toronto, Sundance, Tribeca, Venice, and Cannes, but also encompasses others from San Francisco to Berlin.