Vimeo, the renowned video hosting and sharing platform, is taking a significant leap into the realm of artificial intelligence (AI). This week, the company introduced a suite of AI-powered tools aimed at assisting users in script creation, recording footage using a built-in teleprompter, and eliminating unwanted disfluencies like “ahs” and “ums” from recordings. These innovative features will be accessible starting July as part of Vimeo’s Standard plan, priced at $20 per month (billed annually).
Ashraf Alkarmi, the Chief Product Officer of Vimeo, expressed that these new capabilities are specifically designed for entry-level video creators, including CEOs, employees, and social media managers. This target audience often lacks the necessary skills, time, and resources to achieve their desired video effects.
According to internal research conducted by Vimeo, 50% of its customers resort to multiple takes when creating videos, and among those who reshoot, 25% redo the recording more than five times. Alkarmi noted that despite video production being an effective medium for conveying powerful messages, it inherently presents barriers to effective communication. The latest AI-powered workflow from Vimeo aims to diminish these barriers, enabling any creator to confidently produce videos in a single take.
Vimeo’s new script generator utilizes generative AI, particularly the OpenAI API, to create a video script based on a brief description and key inputs such as tone (e.g., “confident,” “inspiring,” or “casual”) and desired length. The teleprompter tool offers a customizable script display with options for different font sizes and pacing. Additionally, the text-based video editor automatically detects and removes filler words and awkward pauses.
Alkarmi envisions these tools being used to quickly create highlight reels, host virtual events or company meetings, and export quote clips for short marketing videos. He emphasized that while Vimeo is often mistaken as solely an entertainment hub, the company has evolved significantly over the years. Their goal is to enable businesses to utilize video as a powerful means of communication, just like they employ text or images.
The adoption of AI to achieve these goals aligns with the current trend. However, Alkarmi highlighted that Vimeo has been investing in AI for some time. In 2019, the company acquired Magisto, a developer of AI technology for video editing. Vimeo built its Create tool on the foundation of Magisto’s infrastructure, enabling users to create videos by combining stock photos, videos, and personal archives.
Alkarmi emphasized that AI will remain a central focus for Vimeo in the future, considering the competitive landscape. Several startups, including Capsule, Descript, and Dumme, offer AI-powered video editing tools. Established players like Adobe, similar to Vimeo, recognize AI as a crucial ingredient for the future of video editing workflows.
“We are just beginning to explore the potential of AI for organizations and individuals,” said Alkarmi. “I envision a future where AI knowledge is a prerequisite, not a luxury, for video production.” He further stated that AI is a priority for him and his product team due to its ability to address customer challenges, rather than being driven solely by technological trends. Vimeo users can expect more innovative products like this as the company strives to seamlessly incorporate AI into their suite of offerings, simplifying video production and enhancing end-to-end user experiences.
Although publicly traded Vimeo experienced a challenging start to the year, which resulted in an 11% reduction in its workforce, the platform’s renewed focus on AI investments appears to be yielding positive results. In the latest earnings report released in May, the company surpassed expectations by reporting approximately $103.58 million in revenue, exceeding the consensus estimate of $103.