Today it was announced that Vimeo has acquired Livestream a company many Cord Cutters may not know but runs many of the services they use.
Livestream powers many live streams you may use every day including most local news and event streams. Livestreams customers include Spotify, SpaceX, NBC, NewsON, over 200 local TV affiliates, and thousands of churches, schools, and sports teams around the world. Livestream today powers over 10 million events per year for over 10,000 paying subscribers. Nearly 50 million viewers tune in to watch the hundreds of thousands of live events powered by Livestream every month, the company said.
Now Vimeo plans to rebrand Livestream as their own streaming service Vimeo Live. Vimeo says they plan to fully integrate Livestream into the Vimeo platform after the acquisition completes.
“Ultimately, Vimeo is a creator-first platform and live video is what our creators are asking for – this was the #1 request from our community, and it is critically important for us to deliver on what our community needs, while also ensuring that what we produce is founded in quality and reliability, which is why we’re so proud of Vimeo Live and this acquisition,” Sud said.
“Finally, live video contributes to our goal of offering an end-to-end solution across a creator’s entire video workflow, from broadcasting live events to archiving and hosting videos, to distributing and monetizing them anywhere,” she added.
“A big reason for doing this acquisition was the opportunity to bring Livestream’s expertise and institutional knowledge in live video to Vimeo” Sud explained. “This combination is not about cost cutting, it is about growth and attacking a massive opportunity in the market together.”
It should be interesting to see how Vimeo buying Livestream changes the world of live streaming.
Source: Tech Crunch
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