Vimeo buys Livestream, launches new streaming platform

After dumping plans for a subscription video-on-demand business earlier this year, citing the idea as too expensive, video streaming site Vimeo has acquired New York-based Livestream, and is launching its own creator-first live streaming service, Vimeo Live. 

The company has taken the practical approach of not trying to compete with Netflix, Amazon and Hulu by spending billions of dollars on original content.

Instead it is selling video creators more tools and services after integrating Livestream’s technology into its own.

Terms of the deal were not disclosed but Vimeo says it is the largest acquisition in its history.

Vimeo has almost 830,000 creators on board. It has been selling them tools for their trade from between $7 to $50 a month. 

Livestream technology will allow them a step closer to their entire workflow.

For $75 a month, they can stream their live events in full HD (1080p), edit, host, and distribute their videos.

They stream live from anywhere. They can see who’s attending their live event, each live stream video will have a chat sidebar, and get stats to track the stream’s performance. 

Videos will be automatically archived when the events are finished. and can be replaced with files later to support 4K viewing. 

They can also make money out of these videos by using Vimeo to sell them as a rental, purchase, or subscription. 

Vimeo is looking at getting live distribution through social platforms including Facebook, YouTube, Twitch and Twitter, and get live content in branded apps on platforms including

Amazon Fire TV and Samsung connected TVs.

“Live streaming is the No. 1 request from our creator community this year, and we’re focused on bringing a new level of quality, convenience, and craft to this evolving medium,” new Vimeo CEO Anjali Sud said. 

Once Livestream is integrated, Vimeo Live will expand into mobile streaming, she said.