Video sharing website Vimeo is to trial consumer OTT subscription services in competition with Netflix, Amazon, Hulu and YouTube, parent company IAC said. As well as exploiting its existing library of 115 million videos, the company will spend "tens of millions" producing new content and encourage its users to create more original content, IAC said in a letter to shareholders.
No charging details or likely launch date was disclosed.
Vimeo claims to have 240 million monthly viewers of which 10 percent watch 3 or more videos on Vimeo per month and among whom "millions" have already purchased content on its platform from a Vimeo creator, giving a large potential audience.
The company believes it can delivers thousands of hours of content while spending far less than competitors, addressing initially the English-speaking audience and later targeting the global market.
Vimeo, which premiered High Maintenance, a TV series that later transferred to HBO, announced in June the acquisition of OTT subscription platform VHX, allowing it to offer a complete streaming ecosystem permitting individual creators, niche programmers and major media partners to offer on-demand channels.
