![]() The new stock footage tool, Vimeo Stock, will offer a video library of content that can be licensed. “We just saw so much organic growth from the software tools side among the creators that it became a no-brainer that this is what we should focus on.” “Today 100% of our business model is software as a service, like a Dropbox or a Slack,” Sud tells Axios. Vimeo’s CEO Anjali Sud says the shift has been in the works for some time, and the company has already stopped investing in original content production, not a particularly big loss since the company didn’t do much of that to begin with. The pivot, according to Axios, is aimed at turning Vimeo’s primary business into a video stock footage company, along the lines of Shutterstock or Getty Images, as well as providing software tools to online video creators. ![]() We are doubling down on these types of tools for creators, and Vimeo Stock is another product in service of that (it’s one product feature as part of a larger, creator-focused software platform strategy, which we’ve been doing for over a year now.” UPDATE: A Vimeo spokesperson reached out to Cartoon Brew to say that that company is “in no way changing our core offering of hosting & embedding tools. As the company evolves its overall business plan, it will have to balance its existing video platform, which it says will remain unchanged, with the new services that it is adding. ![]() Though the platform’s significance has waned in the recent years, Vimeo is still well liked for its strong feeling of community and curatorial sensibilities. The ramifications of this business shift are significant for the independent animation community, which relies heavily on Vimeo as a place to host high-quality versions of its short films and to gain exposure for their works. The fourteen-year-old Vimeo is pivoting from being a streaming platform to tech company, according to an interview with the company’s new CEO Anjali Sud.
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