What’s better than livestreaming? Two livestreaming tools and platforms, apparently. Last week video platform Vimeo announced the launch of Vimeo Live, a new group of membership plans for creators that offers high-quality, professional livestreaming capabilities. At the same time, the IAC-owned Vimeo announced that it plans to acquire Livestream, a live video platform that powers more than 10 million events annually.

‘Together, we’ll be able to offer you the most complete video workflow on the planet – for both live and hosted videos – no matter what your needs are, and what kind of stories you tell,’ said Vimeo CEO Anjali Sud in a September 26 blog post.

‘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 in a TechCrunch article.

First, let’s look at Vimeo Live which offers pro members a host of tools to make high quality videos on a flexible, convenient platform. With Live, creators will be able to:

• Broadcast events in full HD 1080p with built-in cloud transcoding, so viewers get the best quality no matter what device they are viewing on
• Embed live streams anywhere
• Engage audiences with live chat and email capture
• Use advanced analytics to learn more about audience behavior
• Automatically archive and manage videos in one place
• Get professional privacy controls, review tools and customization options
• Sell post-event videos directly to audiences as a rental, purchase or subscription, giving creators added revenue streams

Vimeo Live will be available in three membership packages: PRO Live ($75 per month when billed annually), Business Live ($300 per month when billed annually), and Custom Live ($800 and up per month when billed annually.)

Next, Vimeo is in the process of acquiring Livestream whose products, including live event cameras, live production software and switchers, and more, will become part of Vimeo. Currently, Livestream is available on a subscription basis, ranging from $42 to $799 a month, when billed annually, plus a custom pricing model. It is not clear how these products will be integrated into Vimeo, except that they will be available in a fully integrated platform.

In addition to its products, Livestream offers case studies, research, and a wide range of how to articles for customers including ‘9 Need-to-Know Stats about Livestreaming for Broadcasters,’ ‘How Corporations Are Using Live Video to Grow and Adapt,’ and ‘Livestream Learn Recap: Lighting for Live Video Master Class.’ Livestream is used by brands like TripAdvisor, Tesla, Spotify, the New York Times, and NASDAQ to power their live events. Vimeo said more details would be available once the acquisition is complete. According to TechCrunch, the deal should close early in Q4.

Vimeo currently has three types of plans: hosting, live stream, and selling, each with their own features and subscription pricing. For hosting, Vimeo offers a basic plan for free, so it can be said that Vimeo offers a freemium model though live streaming and selling are only available to paying subscribers. The benefit of being a member is having the flexibility to go ad-free, sharing across devices, get strong customer support and free tutorials from Vimeo’s video school, and more.

Last November, Vimeo was headed in the direction of offering its own over-the-top (OTT) TV service. It had hired three experienced executives to scout quality content, but Vimeo has scrapped the idea which would have launched in 2018. It looks like they’ve changed course and gone the route of livestreaming instead.

Insider Take:

As livestreaming becomes more popular on apps like Facebook Live, pro and semi-pro creators are seeking higher quality platforms and tools, as well as monetization options, and Vimeo is giving them what they’re asking for. Not only is Vimeo offering their own platform, but the company’s acquisition of Livestream will give them a broad range of capabilities unmatched by other providers. These new offerings will solidify Vimeo’s place in the livestreaming market and give it significant competitive advantages.