Sara Fischer, writing for Axios:
Vimeo, the 14-year-old video service that started as a platform for indie filmmakers, is changing its business to focus on selling software tools to its community of millions of social creators, instead of being a video viewing destination, its CEO said in an interview with Axios.
The pivot allows Vimeo to go after a less competitive social “SaaS” (software as a service) market that focuses on stock images and video, as opposed to the saturated video viewing market, which is dominated by massive tech companies investing billions in original content to win eyeballs.
I think this is a great business move that makes a lot of sense for Vimeo. That said, it does make me sad that YouTube no longer has even a single plausible competitor that’s investing in high-quality video. Competition generally makes all platforms better, and the Vimeo viewing experience is still a great one.