Vimeo Releases Revenue Numbers For The First Time
For the first time since the company was founded in 2004, Vimeo’s revenue has been released. IAC/Interactive Corp., who purchased the video-sharing website in 2006 (and also owns OKCupid, Match.com, Urbanspoon and The Daily Beast), revealed that Vimeo averages more than 100 million unique users and has 400,000 customers paying for Vimeo Plus (a service that costs $10 per month or $60 per year). At the end of October, the site’s 12-month revenue had reached roughly $40 million.
IAC/Interactive Corp. is optimistic about the numbers.
We have a number of assets that could live on their own,” IAC Chief Executive Greg Blatt told Reuters. “Vimeo, we believe, is an asset that will reach that status.”
The site mainly caters to filmmakers, giving them an platform to showcase high-quality work.
Vimeo has proven there is an entire world of really high quality content out there, just as YouTube showed the power of broadcasting,” Trainor said.
The site also offers other services, such as Vimeo PRO, that allows user to enhance and edit their videos, and gives them storage space. As the site caters to filmmakers, it’s much more generous with how it splits profits, taking only 10 percent, compared to YouTube’s 45 percent.