Editor Update: One Month in the Books!

Here’s to Week 4 and our first official month as a live platform!

While this past month has been an intentionally quiet one, we’ve still had a few rather exciting happenings. So, before we give you some much-requested statistics on winning bid prices and project averages, let’s take a peek at the past month’s big highlights:

Highlights from this Past Month

This Past Week

  • One of our users, @AnnieLeonard, had her VidMob-made video retweeted 1.6k times (with much excitement from her followers!) in just two days after sharing it on her social platforms.  
  • New Edit Suite & App updates are live. See details here.

What’s Coming Up

  • Thanks to our spot on The View, our founder has been invited to feature VidMob on Extra in January. Stay tuned for an air date!
  • Presenting at the New York Video Meetup on January 19th.
  • We’re a finalist in this year’s CES Mobile Apps Showdown! Vote here.

Bid Pricing & Project Averages

average winning bids per category:

  • $62.50 | Animal / Pets
  • $100.00 | Business
  • $59.62 | Family / Kids
  • $100.00 | Fashion / Beauty
  • $83.06 | Holiday
  • $73.86 | Travel

average project details:

  • 13.5 minutes —  average media submitted
  • 3.05 minutes — average final product length
  • 2.8 drafts — average number of drafts
  • $67.50 | Music / Entertainment
  • $125.00 | Nature / Outdoors
  • $50.00 | Real Estate
  • $88.41 | Social / Events
  • $85.63 | Sports

 

 

24 Comments

      • Hi Todd,

        It’s going to take some time. We’re still only a month old! We purposely launched our app quietly so that we could make the necessary adjustments to both our app and the Edit Suite before rolling out big. Once we’ve gotten both platforms to a place we feel strongly about, we’ll start to ramp up our marketing efforts. Thanks to a couple partnerships that we have recently established, you can expect more jobs come the New Year. For now, patience and varied auto-bids are the way to go 🙂

        Kindly,
        Team VidMob

      • I’ll chime and say that I’ve also had zero responses. I was underbidding just to see how the site worked out for me, and I figured I’d raise my bids to normal after I got a response or two. I’ll adjust my auto-bids and see if it’s any different.

        • Hi Abby,

          We’re still pretty new. In a perfect world, all of our editors would have had a chance to win a job and experience how the platform works by now–but we purposely launched our app quietly in order to work out the kinks before we scale up big. In the New Year, expect to get more action on the platform. No need to underbid to try and win jobs right now! That will likely hurt your chances. Keep your auto-bids at fair market value and soon you’ll start to see more projects roll in. 🙂 If you have any other questions or concerns, please don’t hesitate to reach out to us at support@vidmob.com!

          Kindly,
          Team VidMob

    • I’ll voice in with Ian. I have been experimenting with my auto bid buckets and they are at a point now which is a significantly lower price then I would usually work for, however I still have not gained any projects. Is there a particular reason for this?

      • Hi Dominick,

        As you know, we’re still very new! And it will take a little while initially for every single one of our editors to win a project. Come the New Year, we are going to adjust our marketing efforts substantially, given the recent improvements to our app and the improvements that are in store for the Edit Suite. Once we have those ducks in a row, then we are really going to attack the promotion of our app so that we can get an ample amount of users creating projects for our all of our editors to work on. For now, our best advice is to set up as many auto-bids as suits you–and perhaps even try experimenting outside of your comfort zone in a different category/genre! Additionally, make sure your auto-bids are fair market value. If they are too low or too high, the algorithm will not optimize them as much as those that are closer to fair market value. Hopefully, the stats from above will help you to place more favorable auto-bids until our user base grows more substantially 🙂

        Kindly,
        Team VidMob

  1. Hi Ian,

    Like we’ve said many times before, it’s the editors who are charging fair market value that are winning these jobs. If you place bottom of the barrel bids, our algorithm will not present your bid to users as often as those who are bidding fair market value.

    If you have any specific questions about how to make our platform work for you, please reach out to us at support@vidmob.com and we’d be more than happy to address your concerns.

    Kindly,
    Team VidMob

  2. Be frank and honest, it looks to me people were working less than minimum wage! One could easily earn double these figures by working in a bar. I do suggest that you should develop a policy to filter certain bids below certain reasonable amount as you filter high bids before presenting them to the customer. Thank you.

    • Hi Rashid,

      As you know if you’ve been following our communications, our algorithm works to favor editor’s auto-bids that are fair market value. We do not reward under-bidding, bottom of the barrel bids, or working for less than minimum wage. That simply goes against why we built VidMob in the first place!

      Kindly,
      Team VidMob

      • Hi Katie,

        Thank you for your swift reply. I appreciate if you could offer us statistics of average hours (including downloading, uploading, communications with the customer) each editor spent to put your average biding prices to support your statement that they’re not working less than minimum wage. Many thanks

        • Hi Katie,

          Thank you for your swift reply. I appreciate if you could offer us statistics of average hours (including downloading, uploading, communications with the customer) each editor spent in your average biding prices to support your statement that they’re not working less than minimum wage. Many thanks

        • Of course, Rashid 🙂 We’re here for our editors!

          We’re currently working on collecting that information. Unfortunately, the only way we can acquire it is by surveying our editors, as we can’t ourselves track when an editor is or isn’t working on a project. But when we’ve gathered enough data, we will be certain to share that with our community.

          Kindly,
          Team VidMob

  3. Hi Katie- Are those winning bid stats the TOTAL for those jobs or the hourly?? My rates vary between $60 – $120 per HOUR depending on the client. Thanks for any clarification & happy holidays!
    -P. Darmi

    • Hi Peter,

      To date, these are the average winning bids for the project as a whole. Keep in mind that these projects are on the smaller side, averaging less than 15 minutes of total media that result in a final output of 3 minutes. So the turnaround time on these is rather quick 🙂

      Kindly,
      Team VidMob

      • Wow, that was a fast response! Thanks! But looking at the stats I’m not sure I’ll make enough to make it worth my while.
        I’m fast, but I doubt I’d be able to discuss client’s goals them, sift thru (average) of 13.5 min of footage, cut it down to approx. 3min, then crank out (average) 2.8 drafts, get client approval, render & upload …all in about 1.5hrs to make my minimum hourly rate. If I was some kid cutting amateur videos the pay would be fine, but this is what I do for a living.
        Suggestions? Thanks!
        -Peter

        • I’ve gotta agree with Peter. I have similar hourly rates, and I believe if you look at anyone who does this for a living, you’ll find the same. Is Vidmob designed with a lower scale in mind or do you anticipate billing rates to increase?

          • Hi Brad,

            In the few months since we’ve launched, most projects have been smaller, more consumer-focused projects. However, we’re working to build VidMob Pro and other extensions of the platform in order to amass a more varied selection of jobs (such as news segments and small business media) for our editors. To see more on what we’re building in 2016, check out our blog post, “New Year, New VidMob,” here: http://www.vidmob.com/2015/12/31/new-year-new-vidmob/

            If you have any other questions please don’t hesitate to reach out to us at support@vidmob.com!

            Kindly,
            Team VidMob

  4. I appreciate the transparency, but I’m still trying to understand how $62.00 is ‘fair market value’ for a video. As Peter stated here, my hrly. rates are within this range as well. A lot goes into the editing process, even if it ‘just’ 15 min. of media, w/a 3 min. total edited video.

    • Hi Kristina,

      We appreciate your concern and getting in touch to let us know! The more we hear from our editors, the better we can make this platform work for everyone 🙂 We are currently working on our next weekly update to provide more context to our platform, the types of jobs that are currently coming through are platform and what jobs you can expect to see in the future, and to answer a lot of the questions being asked here! We hope that this update will provide more clarity and help to address our editor community’s most pressing concerns. If there’s anything else you’d like to see in the update, please don’t hesitate to get in touch with us at support@vidmob.com.

      Kindly,
      Team VidMob

  5. Thanks, Katie Fagan, for your attentive replies and for sharing this data!

    One thing that would really help me as an editor: I want to know if the client primarily wants to cut out footage, or if they want custom VFX intros, or what. If they want a custom intro, do I need to provide royalty-free stock music? Do they want a title card or an animated logo? Knowing details like this would really, really help me have a clearer idea of what I’m bidding on.

    • Hi Abby!

      With your auto-bids, you are in control of what your bid does or does not include…be it VFX intros, title cards, or logos, etc. If you don’t specify that in your notes, you won’t be expected to provide it for an app user. We also have a royalty-free library of over 100,000 songs that our editors have special access to. Additionally, we’re working on building out an ability for editors and app users to renegotiate bid prices, should a user decide they now want something like title cards, etc. in a new draft (should the editor agree to provide this service!). We will keep you updated on when our editor community can expect those updates 🙂 And if you have any other questions or concerns, please don’t hesitate to reach out to us at support@vidmob.com.

      Kindly,
      Team VidMob

    • Hi Matthew,

      I wanted to address your question about what types of projects VidMob was designed for. Since we haven’t rolled out the VidMob Pro version yet — which targets businesses who need content for their social channels — almost all of the users to-date have been consumers. These are normal people with a few clips and photos on their iPhones, who want to work with an editor who can spend a bit of time and turn their raw assets into something more polished. These have mostly been small jobs (usually taking editors 2 hours or less), but have resulted in happy consumers….and a number of happy editors.

      But VidMob isn’t designed just for this use case. Like Uber with Uber X, Uber Pool, Uber Black and Uber Van, VidMob will soon be expanding into other categories as well — that’s why big advertising agencies like Mother New York have invested in our business. VidMob Pro is the next offering to be rolled out, and when it’s ready, we’ll be pushing it out (hopefully) in conjunction with a number of distribution partners to help increase the demand side of the marketplace.

      This should do two things: 1) it will increase the average cost of projects, as businesses are willing/capable of spending much more than a mom with 8 clips of her 4 year-old at his birthday party; and, 2) it should begin to balance the marketplace more. Today, admittedly, there are more editors in the marketplace than consumers (e.g, more supply than demand). We had a feeling that since we were launching from a cold start, the marketplace was almost certainly going to begin with more of one side than the other. This has happened with the launch of almost all marketplaces in history. Now, we can work on marketing to the demand side of the equation, and thus bring it into balance. This will take some time, but we know how to do it and are working on that now.

      Our sincere hope is that, over time, VidMob will grow into a marketplace that works well for editors at all skill ranges. Today, it’s mostly consumer/iphone oriented, but that will evolve. If today’s projects aren’t interesting for you, we totally get that. Our suggestion would just be to put a couple of auto-bids in at prices that work for you, then sit back and let the marketplace catch up to you. We’re betting it will.

      VidMob

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