By Paula Bernstein | Indiewire March 6, 2014 at 10:0AM
At last year's SXSW, Vimeo announced its Vimeo On Demand platform. On the eve of this year's SXSW, Vimeo has announced a $10 million investment in the service. The investment will be used to expand the crowdfunding program, the film festival program and for acquisitions, as detailed below.
"Vimeo on Demand has been growing quite quickly over the past year. This is an expansion over the initial investments we have made -- starting in Toronto where we acquired about a dozen of the premiere titles and at Sundance where we announced a support program for crowd funded films," Kerry Trainor, CEO of Vimeo, told Indiewire. "Building on our early content investment programs, we're excited to announce this broad expansion of resources to support creators."
Vimeo will provide content creators who distribute their work on Vimeo on Demand with direct financial support as well as online marketing services, such as website development and translation services.
The $10 million fund will include the following programs:
-- Expansion of Crowdfunding Program: Vimeo will expand on the crowdfunding program announced at the 2014 Sundance Festival by extending access to part of its $10 million fund to select titles that have successfully raised $10,000 or more through a leading crowdfunding platform in exchange for an exclusive window on Vimeo On Demand.
-- Expansion of Film Festival Program: Building on its 2013 Toronto Film Festival program, Vimeo will use the $10 million fund to offer guaranteed funding in exchange for an exclusive distribution window to any film that has premiered at one of the 20 leading global film festivals throughout 2014.
-- Expansion of Title and Catalog Acquisitions: Vimeo will work with filmmakers and distributors to accelerate its investment in individual titles and catalogs suited to Vimeo's audience.
-- Vimeo PRO Grants: In addition to direct financial support for exclusive distribution partnerships, filmmakers that have successfully raised $10,000 or more through crowdfunding or have had a film premiere at one of the 20 leading global film festivals in 2014 will be granted one year of Vimeo PRO for free with distribution on Vimeo On Demand.
Meanwhile, at SXSW, Vimeo will host a screening of "The Internet’s Own Boy: The Story of Aaron Swartz" and the world premiere of DamNation presented by Patagonia in the Vimeo Theatre at SXSW in the Austin Convention Center.