Posted inNews

Vimeo raises $150m as parent company mulls spin-off

Video streaming service Vimeo may be spinning off as an independent company within parent group IAC. The news was revealed as IAC also announced that Vimeo had raised $150m in a new funding round, from Thrive Capital and GIC.

A letter to shareholders from IAC boss Joey Levin outlined Vimeo’s journey from being a (smaller) YouTube rival, to more of a B2B platform for brands and companies using video.

“Prior to the pandemic, we were steadily proving Vimeo’s fit in the market. Organic bookings growth consistently accelerated last year from 11% in Q1’19 to 27% in Q4’19 as we began to expand from our filmmaker roots to a broader audience of small businesses and large enterprises,” he wrote.

“Then the pandemic hit, and that acceleration exploded to 41% in Q1, 79% in Q2, and 56% in the most recent quarter.” More than 3,500 business clients are currently using Vimeo.

Posted inNews

Vimeo ditches plans to launch subscription video service

We reported last week on Dailymotion’s plans for a relaunch with music as one of its key pillars. Now one of its rivals, Vimeo, is tearing up its own plans to strike out in a new direction.

Last November, Vimeo said it was planning to launch a subscription video-streaming service based on original shows, to play in the same waters as Netflix, Hulu and YouTube Red.

“Vimeo has the once-in-a-generation opportunity to, following in Netflix’s footsteps, deliver compelling subscription viewing experiences for consumers in the market for pay TV,” said interim CEO Joey Levin at the time.

Posted inAnalysis, Reports, Reports-Old

Music Ally Report 347 – Return Ticket

Our cover feature looks at the obstacles facing the ticketing industry as it attempts to move itself onto mobile. The desktop ticketing experience has not evolved in years and the mobile version is too cumbersome to be truly considered fit for purpose. But a new breed of services have been chipping away at the edges and now the dominant players are also making huge strides to get their (mobile) house in order.

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