Video licensing is a $9 billion per year industry, says startup Glymt, which promises a better way to service brands in need. Glymt is a user-created stock service, where anyone can contribute video and brands can request whatever they need.
Rather than offering a library of professionally shot content, Glymt takes a different approach. Anyone using the Glymt app can register for an account and upload 5- to 20-second videos. All content is vetted before going online. Licensing fees start at $20.
If brands search the Glymt library and don’t see what they want, they can request something specific. There’s no limit to the number of requests a brand can make, and no charge to make a request. Requests go out to Glymt’s network of creators who can shoot and submit something to match the request.
Brands are free to review submissions before picking one, and they only pay for the videos they want. The fee for custom-shot video is higher, but that’s to be expected. Brands can save money by buying credits. They can search the library through a browser or the mobile app.
Glymt began operating in a beta mode in September 2015, and has grown its creator network to 20,000 since then. Late last month was its official launch, as Glymt is now fully open for business. Nestlé, Unilever, and the Portuguese Tourism Authority are already using it.
“We are matchmakers. We don’t require huge video collections and prefer to listen to the market and activate our creators whenever needed,” says Nuno Bartolo, Glymt’s founder and CEO. “The focus is not on having a large video stock, but on providing an instant connection between brands and a global filming crew to achieve faster, better results for our clients.”
When videos are licensed, the creator and Glymt split the fee. Creators can withdraw payments through a PayPal account.