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Vimeo acquires Livestream and launches new streaming platform

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It just acquired the video broadcasting provider Livestream

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vimeo-live Image: Vimeo

Vimeo has added live-streaming tools to its video platform for the first time with the launch of Vimeo Live. Customers will be able to stream live from anywhere, and videos will be automatically archived when the events are finished. Each live stream video will feature a chat sidebar.

“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,” Vimeo CEO Anjali Sud said in a statement.

The feature, however, will not be that useful to a large portion of Vimeo’s creator community. Sud told Variety that Vimeo Live is “not a consumer-level product,” and that it will cost $75 a month.

In addition to launching Vimeo Live, the company just announced an agreement to acquire Livestream, a live video technology company. Once the deal is closed, Vimeo says Vimeo Live will be integrated into the service’s main platform. Until then, Vimeo Live will exist as a standalone platform. The service does not support mobile streaming yet, but Vimeo says it will once the Livestream deal is closed.

The company has been stalling behind its competitors when it comes to embracing live-streaming tools. YouTube launched mobile live-streaming back in 2016, as did Facebook and Instagram.