Vimeo is gearing up to launch its own streaming subscription service

Vimeo is gearing up to launch its own streaming subscription service

The Hollywood Reporter has revealed in a Wednesday report that video-sharing platform Vimeo is planning to launch its own consumer-facing streaming subscription service.

The report that Vimeo – a video-sharing service largely preferred by indie filmmakers – is getting ready to launch its own streaming subscription service is based on the information shared by Vimeo CEO Joey Levin in a recent letter to the company’s shareholders.

According to the report, the streaming subscription service which Vimeo is planning to launch will essentially replicate the premium services that are presently being offered by the company to video creators, so as to make more money from its viewers.

Highlighting that aspect, Levin said in the letter to Vimeo shareholders that the company is hopeful of building “a compelling new consumer experience” which would be an accompaniment to the services it presently provides to creators; thereby bringing about a potential transformation in the industry.

Furthermore, drawing attention to Vimeo’s existing relationships with a number of filmmakers who sell their content -- TV series as well as movies -- to services like Netflix and Amazon, Levin said that the launch of a streaming service by the company will give it a "start with a massive existing library (and associated viewing data) and a community of creators capable of producing superb content cost-effectively."

Health