Vimeo Generated Around $40 Million in Revenue This Year
IAC/Interactive Corp. has released video site Vimeo’s number of users and revenue for the first time since the platform’s launch. As one of IAC/Interactive Corp’s online holdings, Vimeo averages more than 100 million unique users, and has 400,000 customers paying for Vimeo Plus. Ending in October, the site’s 12-month revenue has reached around $40 million.
About these numbers, IAC chief executive Greg Blatt seemed optimistic. “We have a number of assets that could live on their own,” he told Reuters. “Vimeo, we believe, is an asset that will reach that status.”
Founded in 2004 under the tutelage of IAC, Vimeo has continued to find a voice among independent filmmakers. While YouTube — a direct competitor to Vimeo — tends to thrive around content that is geared towards a mass audience, Vimeo’s market has primarily been among the artistic sect.
Earlier this year, Vimeo announced several new efforts to increase revenue, including an upgraded Vimeo Pro option, which allowed filmmakers to charge money for their content. The $199 annual fee also gives filmmakers 1TB of storage space a year with a weekly 20GB. Those looking to sell films via Vimeo will find that the site’s revenue share is extremely favorable at 90/10, a far cry from YouTube’s 55/45.
Kerry Trainor, CEO of Vimeo spoke to the power of the platform’s artist-driven content, saying: “Vimeo has proven there is an entire world of really high quality content out there, just as YouTube showed the power of broadcasting.”
While Vimeo is still miles away from YouTube in terms of audience and revenue, Jason Helfstein, research managing director at Oppenheimer & Co told Reuters that Vimeo’s average evaluation at the midpoint is in the $500 million range. He explained: “It has been on of IAC’s most successful startups.”Tags: IAC, Interactive Corp, Kerry Trainor, Vimeo, Vimeo Pro