One thing the Internet has done is make it easier for creators to sell their work and gain exposure.
But if there is one aspect that hasn’t really kept pace with the times it can often be the royalties or fees that are paid out to creators for their hard work, as is often the case when it comes to stock photography and video. Image via Anthony from Pexels.com.
Vimeo, the erstwhile competitor to Facebook but with more of a focus on providing digital media services than anything else, is hoping to shake up the stock video market with an improved payout rate for contributors that is not only superior to rivals but also double the industry average of 35% according to a report from FStoppers.
That’s a huge amount of cash for some people and it is Vimeo’s hope that this improved pricing structure will lead to more robust growth in its platform as a go-to source for all things digital content.
Like we said above, Vimeo, while similar to competitor YouTube, is a bit different: Not only will users be able to upload their videos for viewing but also they can now monetize them to be sold as stock footage. Currently YouTube monetization options for videos include advertising and direct donations to contributors through subscriptions or one-time donations. Vimeo is thus positioning itself as more of a marketplace than a forum.
Part of Vimeo’s goal with this move is to “empower” creators to make better content. The strategy of housing both on the same website is novel and part of Vimeo’s appeal. The rates outlined by Fstoppers are $70 for HD clips and $199 for 4K video clips with these media files being available in 150 countries.
But, just in case you’re starting to get excited, the program will be invite only at the start. Maybe eventually it will open up to more creators but a slow ramp up seems like the way forward for now.