Vimeo has officially launched its new short-form social video editing platform, a month after first introducing the tool in beta.
Vimeo Create, as the new service is called, represents the first fruits of its reported $200 million Magisto acquisition last year. Magisto, for the uninitiated, is a Qualcomm-backed AI-powered video-editing app that automatically edits together video clips by analyzing images, speech, and audio to create a final broadcast-worthy clip that can be easily shared across all social channels. It’s all about streamlining the video-editing and sharing process through automation.
“It’s a radically simple tool that shortens the distance from idea to execution, so more businesses can have a successful video strategy,” noted Vimeo CEO Anjali Sud.
Magisto could play a big part of Vimeo’s broader pivot away from its former “YouTube alternative” status, as it looks to position itself as a place for creatives and businesses to access all the tools they need to make videos. Indeed, Emarketer predicts that spending on social video ads in the U.S. alone will hit nearly $15 billion by 2021, a 44% increase on 2019 — and that is the market that Vimeo is banking on.
“Video is the most impactful medium we have today for human expression at scale, and businesses need an online video strategy to reach their customers,” Sud added. “Small business owners and entrepreneurs don’t have the tools, time or budgets to make videos at the volume and quality needed to compete. Vimeo Create levels the playing field.”
How it works
With Vimeo Create, Vimeo offers a stock video marketplace which it originally launched back in 2018, where users can search for relevant clips or images by keywords. They can also upload their own original creations.
Users can then tailor the video with their own music, text, and animations before sharing with the masses.
Vimeo has iterated the product over the past month ahead of today’s formal launch, and Vimeo Create now offers brands more customization features such as setting default fonts and color schemes, and adding their own logos.
Perhaps more importantly, Vimeo Create also now has its own dedicated mobile apps, making it easier for marketers et al to produce videos on the fly.
In terms of costs, Vimeo Create can be used by anyone with a Vimeo account, however only those with one of the paid membership options will be able to save and distribute their videos.