Vimeo Drops Plans for Subscription Video-on-Demand Service

The decision comes only months after company announced it had plans to take on Netflix, Amazon and Hulu

Last Updated: June 26, 2017 @ 9:06 AM

Video-sharing website Vimeo is abandoning its plans for a subscription video-on-demand service just months after putting the plan into motion.

“Vimeo has confirmed that it has decided not to proceed in offering a subscription based original program service scheduled to begin in ’18,” a Vimeo spokesperson said in a statement.

The company announced in November it was set to take on competitors like Netflix, Amazon, Hulu with its own consumer-facing subscription service.

“I believe we can build a compelling new consumer experience to complement the services we currently provide to creators, and in doing so help transform the industry,” said Vimeo CEO Jimmy Levin in a letter to IAC shareholders — Vimeo’s parent company — last fall. “Vimeo has the once-in-a-generation opportunity to, following in Netflix’s footsteps, deliver compelling subscription viewing experiences for consumers in the market for pay TV.”

But Vimeo’s plan would’ve required millions of dollars in investment to get off the ground. And with Facebook and Apple set to jump into the battle of original content, the marketplace would’ve been even more crowded for the streaming service.

In the past, Vimeo has specialized in cultivating popular underground content and has offered its users the ability to pay for content. The service funded stoner-comedy “High Maintenance” before the series was picked up by HBO.