Vimeo has shelved its plans to launch its own subscription streaming service.
The video site, which has established itself as the go-to hub for filmmakers and creatives looking to share their work with the world, has dipped its toes in the SVOD waters in recent years, with its robust platform allowing individual creators to publish their work by effectively creating their own mini-subscription service. Last year, though, Vimeo announced its plans to launch its own SVOD service too, building upon its reputation for spotting up-and-coming talent with an array of original content. Now, those plans have been shelved.
“Vimeo has confirmed that it has decided not to proceed in offering a subscription based original program service scheduled to begin in ’18,” the site said in a statement this month.
There has been no explanation about why it has gone back on its decision, although between Netflix, Amazon Prime Video and a growing number of niche subscription platforms, such as Shudder, competition for content is only getting harder.
Vimeo CEO Joey Levin originally said the plan was to assemble original content at a lower price than other major rivals, perhaps relying on that eye for spotting new talent rather than bigger household names. Nonetheless, with costs for content only climbing, the price, perhaps, simply wasn’t right.
That also means the departure of Alana Mayo, Kesila Childers and Kelly Miller, the three execs hired to help lead its search for premium original programming.
“This was a difficult decision – the idea of pursuing an SVOD service for Vimeo has always been intriguing, and I would have loved to see the incredibly talented Alana Mayo’s programming vision realized here at Vimeo,” added Levin in a statement. “She and her team are creative, sharp, risk-takers, and I believe will all, to a person, have an incredible future in programming. But the opportunity ahead for Vimeo to empower creators is too large and too important for us to attack with anything other than absolute focus and clarity.”