Video sharing site gets 15 percent of gratuities
San Francisco, CA -- (SBWIRE) -- 10/09/2012 -- These days practically everyone with a stake in online videos is wrangling for a piece of the financial pie. With that in mind, online video sharing Vimeo platform recently added a virtual tip jar feature to its site.
Brian Compton, a bass player and musician for 20 years, who plays on a San Francisco street corner for tips, estimates fewer than 1% of pedestrians who walk by actually leave a tip for his band.
Vimeo CEO Kerry Trainor says that Compton might see more money for his music if he filmed his performance and posted it online. "There's a lot more people on Vimeo than there are on your average street," Trainor said.
With the virtual tip jar, if a viewer likes a Vimeo video he or she can hit the tip button and pay from $0.99 to $500 to show his or her appreciation. Vimeo takes 15% of tips.
It’s not the first time tips have been sought online. According to Trainor, crowdfunding such as that used by Kickstarter, has sparked growing interest in the concept.
"That relationship of directly connecting and supporting ... a creator is something that we really feel has just caught a lot of steam on the Internet," Trainor said.
YouTube, a much larger video sharing site, allows artists to earn money by running ads with their work. Vimeo has distinguished itself from the beginning as a video sharing site for professionals.
Compton is not convinced of the model’s potential for financial success. "You're not connecting to the customers," he said. "You're going through some Web designer and some corporate whatever to get them to get to you — whether it's a penny or a dollar."
On the other hand, video artists who are not able to perform in person might find Vimeo’s virtual tip jar an opportunity to earn money from their art.
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