Vimeo Introduces Cutting-Edge AI-Powered Editing Tools for Video Enthusiasts
Vimeo, the popular video hosting and sharing platform, is fully embracing the power of artificial intelligence. This week, Vimeo unveiled a collection of AI-driven tools aimed at assisting users in creating captivating videos. These tools include a script generator, a built-in teleprompter for recording footage, and an automated feature that eliminates long pauses and undesirable disfluencies like “ahs” and “ums” from recordings. Starting in July, these tools will be accessible as part of Vimeo’s Standard plan, which costs $20 per month when billed annually.
According to Ashraf Alkarmi, Vimeo’s chief product officer, these new capabilities primarily target entry-level video creators such as CEOs, employees, and social media managers. These individuals often lack the necessary skills, time, and resources to achieve the desired effects in their videos. Vimeo’s internal research reveals that 50% of its customers record multiple takes while creating videos, and among those who reshoot, 25% go through more than five takes.
Alkarmi stated, “Despite being the most effective way to communicate powerful messages, video production inherently creates a barrier to this preferred communication channel. Our latest AI-powered workflow reduces those barriers, giving any creator the confidence to actually create videos in one take.”
To accomplish this, Vimeo’s script generator employs generative AI, specifically the OpenAI API, to create video scripts based on brief descriptions and key inputs such as desired tone (e.g., “confident,” “inspiring,” or “casual”) and length. Additionally, the teleprompter tool offers a customizable script display with various font sizes and pacing options. The text-based video editor automatically identifies and removes filler words and awkward pauses.
Alkarmi envisions these tools being utilized for quickly creating highlight reels, hosting virtual events or company meetings, and exporting quote clips for concise marketing videos.
While leveraging AI to achieve these objectives is currently trending, Alkarmi emphasizes that Vimeo has been investing in AI technology for some time. In 2019, the company acquired Magisto, a firm specializing in AI-powered video editing. Vimeo’s Create tool, built on the foundation of Magisto’s infrastructure, enables users to create videos by combining stock photos, videos, and personal archives.
Alkarmi expects AI to remain a core focus for Vimeo in the future, which is a prudent move given the increasing number of start-up’s and established companies offering AI-powered video editing tools. Competitors such as Capsule, Descript, Dumme, and even Adobe recognize AI as a crucial element in the future of video editing workflows.
Vimeo, a publicly-traded company with approximately 260 million users, faced some challenges earlier this year, resulting in an 11% reduction in its workforce. However, things are looking up for the platform, possibly due in part to its renewed focus on AI investments. In its latest earnings report in May, the company exceeded expectations, reporting revenue of approximately $103.58 million, surpassing the consensus estimate of $103.07 million.