Have you ever dreamed of having your own Netflix? Or at least, a paid subscription service to make money from your video creations? Of course you have… but it is not exactly the easiest thing to set up now, is it?
VHX was founded back in 2010, but is not very well-known. Over the years it has always focused on providing white-label services to let developers create feature-rich websites with payment systems and integrated checkouts to help developers build video subscription services.
By acquiring VHX, Vimeo is sending a strong message to its competitor YouTube. Not only is the company clearly differentiating itself from the Google-owned “advertising” video platform, but is also reinforcing its link to creatives who will now be able to monetise their creations without the need for an advertising model.
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Kerry Trainor, CEO of Vimeo, explains:
[quote]Online video is expanding from a few mainstream subscription services into a flourishing world of interest-based streaming channels, much like the evolution from broadcast to cable television.[/quote]
VHX only counts around 30,000 subscribers on the more than 100 video channels it powers. However, now being part of Vimeo, there is no doubt that the numbers will start to grow fast, as its new owner will look to help developers, creatives and corporations to build their own subscription VoD services.