Vimeo recently announced that they have officially acquired Magisto, a video production platform that has gained quite a lot of popularity in recent years. The platform was initially an Israeli start-up and had more than 100 million registered users prior to Vimeo acquiring the service.
The Magisto platform helps the user create videos with “excitement and emotion,” without the need to own any type of expensive equipment. Video editing is known to be quite an expensive hobby and even more expensive when it turns into a profession. A large variety of equipment is needed, along with software that can also be just as expensive. This limits the ability of the everyday person who simply wants to create a memorable video with a few of the memories they made on a recent trip with the family.
With the Magisto service and platform, anyone is able to upload a couple of photographs and video files, and quickly start creating their own video. The platform does not even require any prior experience in video production, which has been one of the biggest selling points for Magisto.
The CEO of Vimeo, Anjali Sud, explained that the acquisition of Magisto was driven due to the significant increase in the demand for video in today’s online world. People expect businesses to be able to create quality videos today in order to connect with them. Unfortunately, for smaller businesses, there usually is not a budget for creating these videos – the equipment, software, and hiring a video producer all adds up to the total costs.
With the Magisto platform, the business owner is able to perform a couple of simple steps in order to produce a video for their business – without the need to hire someone from the outside and undergo additional expenses, which a small business may not be able to afford at the beginning stages.
Vimeo CEO explained that their video sharing platform has already become popular throughout the world and is considered one of the top options for watching videos in the modern day. It is not only the average internet user that takes advantage of the services they offer, but many businesses have also started to create and share videos on their platform. Bloggers and internet marketers have also been given an opportunity to monetize their content.
Now, with the acquisition of Magisto, a new range of services are offered to individuals who decide to sign up for a Vimeo account. The platform will no longer be a simple service for uploading and hosting a video. Instead, it will now turn into a complete video solution.
Users will be able to register, create their own videos on the platform, and then host their videos. These videos can then be shared with the world – and even monetized in many different ways.
The Magisto platform utilizes AI in order to help the user create the perfect video that truly captivates the audience and helps brands better connect to their most ideal customers in new ways.