Vimeo, the popular video hosting site, has launched a new paid service called Vimeo On Demand.

Charging for content

The company made the announcement at South by Southwest and outlined the details in a blog post.

Vimeo On Demand is a self-distribution service that allows Vimeo Pro members to sell their content, set the price and choose which regions the video will be available in.

While becoming a Vimeo Pro member costs US $199 per year, Vimeo is giving members a 90 per cent cut of the revenue, less transaction fees.

Watch anywhere

Vimeo On Demand content can be viewed in high definition on mobile devices, smart TVs, streaming boxes, as well as on the creator's website.

“Since we founded Vimeo in 2004, we’ve been dreaming of a world where more and more creators can support themselves with their work alone. Today we’re proud to be taking a big step in that direction, and there are many more exciting steps to come,” wrote Vimeo's Blake Whitman.

Testing the waters

Last year Vimeo launched Creator Services, a suite of features designed to help creators (and Vimeo) make money from their videos.

The first feature was Tip Jar, which allowed viewers to pay virtual 'tips' for videos they liked, followed by pay-to-view movies. Whitman described these features as the entree and Vimeo on Demand as the main course.

Video stars

With over 72 hours of videos uploaded to YouTube ever minute and a recent IAB study showing Australian brands increased their annual video ad spent 30 per cent in 2012, online video is one of the fastest growing sectors on the web.

Through giving content creators more control and cash Vimeo may strengthen its position as the place for quality, artisan films – not just the cat videos YouTube is famous for.

Vimeo On Demand launched with a screening of It’s Such a Beautiful Day at the SXSW, a film by Don Hertzfeldt that is available to view for $2 rental or $6 sale.

Check out SMK’s upcoming industry leading training courses in: Melbourne, Sydney, Brisbane, Perth, Canberra, Auckland, Adelaide and Wellington.

Also, browse through hundreds of online social media video tutorials on eSMK Facebook, Twitter, LinkedIn, YouTube and more!!