Did you miss a session from GamesBeat Summit 2022? All sessions are available to stream now. Watch now.
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 Vimeo’s reported $200 million Magisto acquisition last year. Magisto is a Qualcomm-backed AI-powered video editing app that analyzes images, speech, and audio to create a broadcast-worthy clip that can be easily shared across social channels.
“It’s a radically simple tool that shortens the distance from idea to execution so more businesses can have a successful video strategy,” said Vimeo CEO Anjali Sud.
Magisto could play a big role in 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 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 from 2019.
“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
Vimeo Create offers a stock video marketplace — originally launched back in 2018 — where users can search for relevant clips or images by keywords and upload original creations.
Users can then modify the video with their own music, text, and animations before sharing it 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 the option to set default fonts and color schemes and add logos.
Perhaps more importantly, Vimeo Create now has its own dedicated mobile apps, making it easier for marketers and others to produce videos on the fly.
Vimeo Create can be used by anyone with a Vimeo account, although users will need a paid membership to save and distribute videos.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.