In September, Vimeo launched Vimeo Stock, a new global, royalty-free stock marketplace featuring an exclusive collection of high-quality video footage sourced directly from Vimeo’s community of iconic creators. We caught up with Derick Rhodes, Sr Director, Creator Programs to talk about this new service and how it can benefit content creators of all types.
ProductionHUB: Why did Vimeo get into the stock footage business?
Derick Rhodes: Vimeo's mission is to empower creators to tell exceptional stories and we see Vimeo Stock as an extension of this mission. In the last few years we've built an increasing number of workflow tools and features into Vimeo (Review Tools is a great example), and our community made it clear that they'd love to be able to license stock directly from Vimeo. Perhaps most importantly, Vimeo features a collection of some of the world's most talented filmmakers, and we were really excited to bring their work into the stock licensing space for the first time.
PH: There are a lot of stock footage sources out there. What makes Vimeo different?
Derick Rhodes: It's a combination of things, but these two factors are probably the most important: 1. We're offering a collection of exclusive content - not available anywhere else - from the Vimeo community.
2. Licensing stock footage on Vimeo adds the files directly to your video manager, so you can manage all of your video projects and footage in one place - we've heard from customers that they see this as a huge benefit.
Otherwise, the fact that Vimeo paid customers get an automatic 20% off of all their stock purchases has been a benefit that sets us apart.
PH: You guys are new to the stock space, no? But really you have been around a while. What have you learned so far in this space?
Derick Rhodes: Yes, this is the first time Vimeo has had a stock footage collection. Our success so far with this new offering has really resulted from a very simple formula: listening to what the Vimeo community wants. Otherwise, we're offering the highest royalty rates in the industry to the creators (60%), so it's been great to give more money back then folks would get from one of the established stock platforms.
PH: Were there any common misconceptions when you first started rolling out the stock service?
Derick Rhodes: No, it seems that most folks - and especially those in our community - are aware of the value of stock and how it can help in different types of projects. So it's been relatively straightforward, as far as people getting acclimated to the offering and how we're different.
PH: Do you have a “typical” customer yet, or are you still figuring it out?
Derick Rhodes: We've had a wide range of customer types over the last few months - from individual freelancers and people licensing for interesting creative projects, to agencies and brands licensing for advertising campaigns. It's been interesting learning about the wide range of uses - we've seen a mix of both online and offline projects, but so far there's not any one type of customer or use really dominating.
PH: Is there a demand for one kind of shot over the next? For example, maybe a drone shot versus some other type of aerial?
Derick Rhodes: In general, aerials are for sure one of the more popular categories - which makes sense when you think about the costs associated with producing a super high-end aerial establishing shot of a distant city or location. Rather than the source of the aerial (whether it's a helicopter shot or a drone), it's more about the composition and camera movement. Here's a recent collection of aerials we love.
PH: How do you acquire new footage? How do you verify that the owner actually owns it?
Derick Rhodes: We accept submissions from potential contributors.
Otherwise, we find new contributors through a variety of means, including from amongst established stock shooters, Staff Picked filmmakers, and sometimes simply because we see something great on Vimeo that would work well for Vimeo Stock!