Video platform Vimeo has joined forces with the Toronto International Film Festival to offer filmmakers a cash advance of $10,000 in return for exclusive rights over their festival entries for 30 days. At the end of that period, filmmakers can opt to keep their films on Vimeo (and benefit from monetisation via the Vimeo on Demand service) but they are also free to publish and distribute elsewhere in as many places as they choose such as Netflix or iTunes.

Cameron Bailey, artistic director of the Toronto International Film Festival said of the venture:

We’ve all seen independent filmmakers trying to find traditional ways to find an audience — the traditional DVD model is not as relevant as it used to be. Vimeo is a known quantity to independent filmmakers… It’s a very stable and sophisticated way of watching films online

Vimeo on Demand offers content creators a 90% share of any revenue generated and has already attracted some 2000 film titles since its launch in March 2013.

You can see the excellent trailer for the Film Festival here:

The Toronto International Film Festivals starts on Thursday 5th September and runs for 10 days. There are 288 features from directors such as Woody Allen, Ron Howard and James Franco as well as the world premiere of the much awaited Benedict Cumberbatch Wikileaks movie ‘The Fifth Estate‘.