- Vimeo Invests $10 Million in Vimeo On Demand to Boost Indie Projects
It's been a year since Vimeo announced the launch of its VoD service, Vimeo on Demand, and to celebrate the first anniversary of the service, Vimeo has confirmed a $10 million investment in the platform. The cash injection will fuel a global expansion of support, enabling more creators to sell their work directly to consumers. Eligible filmmakers will receive financial and marketing support, including translation services, in return for licensing their work through Vimeo on Demand.
The $10 million investment will include the following initiatives:
- Vimeo PRO Grants: Filmmakers who have successfully raised $10,000 or more through their own crowdfunding efforts, or have had a film premiere at one of the 20 leading global film festivals in 2014 will be rewarded with one year of Vimeo PRO for free to include distribution on Vimeo On Demand. The 20 film festivals have been confirmed as:
- Berlin International Film Festival
- Cannes International Film Festival
- Edinburgh International Film Festival
- Fantastic Fest
- Full Frame Documentary Film Festival
- Hot Docs
- International Documentary Film Festival Amsterdam
- International FIlm Festival Rotterdam
- LA Film Fest
- Locarno International Film Festival
- New York Film Festival
- San Francisco International Film Festival
- Sheffield Doc/Fest
- Sundance Film Festival
- SXSW Film Festival
- Telluride Film Festival
- Toronto International Film Festival
- Tribeca Film Festival
- True/False Film Fest
- Venice International Film Festival
Expansion of Vimeo's Film Festival Program: The platform will use the $10 million 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 (see above).
Expansion of Vimeo's Crowdfunding Program: Vimeo is expanding on its crowdfunding program to extend its reach to select titles that have successfully raised $10,000 or more through a leading crowdfunding platform in exchange for exclusive inclusion on Vimeo On Demand.
Expansion of Vimeo's Title and Catalog Acquisitions: Vimeo will work closer with creators and distributors to further its investment in quality individual titles and catalogs.
Kerry Trainor, CEO of Vimeo said of the investment:
Building on our early content investment programs, we're excited to announce this broad expansion of resources to support creators. 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.
It's not the first time Vimeo has invested resources in supporting indie filmmakers and distributors. It offered Toronto Film Festival entrants $10,000 in return for exclusive rights over their entries for 30 days, and it's crowdfunding program budgeted $50,0000 to aide select filmmakers with marketing.
Filmmakers who are interested in the new initiative will find further information via Vimeo's Audience Development Program.