The amount of the deal was not disclosed.
Co-founded by Jamie Wilkinson and Casey Pugh, VHX provides an OTT (over-the-top) video distribution platform which allows creators to sell films, TV shows, web series and more across multiple platforms.
THE PRESS RELEASE
VIMEO ACQUIRES OTT SUBSCRIPTION VIDEO PLATFORM VHX
NEW YORK, May 2, 2016 – Vimeo, an operating business of IAC [NASDAQ: IAC], announced today the acquisition of VHX, a platform for premium over-the-top (OTT) subscription video channels. The acquisition strengthens Vimeo’s leading marketplace for consumers to access high quality programming direct from creators worldwide. Terms of the deal were not disclosed.
“Online video is expanding from a few, mainstream subscription services into a flourishing world of interest-based streaming channels, much like the evolution from broadcast to cable television,” said Kerry Trainor, Vimeo CEO. “Vimeo is home to the world’s leading video creators and the viewers who love them, and we’re excited to add VHX’s team and technology to our streaming marketplace. As the video universe continues to unbundle, Vimeo offers the ideal home for the next generation of premium video channels serving passionate global audiences.”
VHX Co-Founder and CEO, Jamie Wilkinson adds, “We couldn’t ask for a better partner than Vimeo. Adding our platform to Vimeo’s massive community of creators and consumers means we’ll be able to move faster, and help creators large and small succeed in the over-the-top streaming market.”
With the addition of VHX, Vimeo now offers a complete streaming ecosystem for individual creators, niche programmers and major media partners to offer subscription video on demand (SVOD) channels. Only Vimeo offers partners the ability to build catalogs and audience by sourcing programming from Vimeo’s vibrant creator community, and accessing Vimeo’s global ecosystem of over 280M monthly users.
Vimeo now offers creators:
– Audience: access to a global ecosystem of over 280M creators and viewers.
– Industry leading economics: low startup costs and best-in-industry revenue share.
– Data transparency: Vimeo provides customer data, insights, and powerful video analytics tools.
– Scalable technology: rapidly launch or migrate SVOD channels in 4K adaptive streaming across mobile, web and TV apps, plus available industry-standard DRM.
– Partner branded sites and apps: easily launch a branded SVOD channel across websites, mobile and TV apps.
VHX Co-Founder and CEO Jamie Wilkinson will report to Vimeo CEO Kerry Trainor.
Vimeo’s mission is to empower creators to make, share and sell amazing videos directly to viewers worldwide, in the highest quality possible with no interruptive advertising. Vimeo is home to the world’s leading video creators and the hundreds of millions of viewers who love them. Founded in 2004 and based in New York City, Vimeo, Inc. is an operating business of IAC (NASDAQ: IAC).