Demand Media: Etsy And Pinterest Will Feed Interest In Creativebug
As previously reported, Demand Media announced today that it has acquired arts and crafts e-learning site Creativebug as part of its push to expand into paid content offerings.
During a recent earnings call, the company expressed such an initiative, leading us to believe that we’ll be seeing more of these kinds of acquisitions in the near future.
“We plan to leverage our premium video expertise to launch Subscription and On-Demand e-learning content by mid-year,” a spokesperson for the company tells WebProNews. “We’ve already begun beta testing eHow Now, a product that offers real-time expert advice, where we leverage our studio’s expert talent to provide real-time answers. In our beta, we have experienced strong conversion rates and a 90% customer approval rating. We’re also developing a LIVESTRONG subscription service. We’ve hired senior executives from the makers of P90X to help develop this product offering, which we plan to launch in Q2.”
With an increased interest in sites like Etsy and Pinterest, one can only imagine that consumers are hungry for the kinds of content Creativebug has to offer.
“We believe there is a disruption and reinvention going on, as people become more interested in the craft movement,” the spokesperson says. “People will continue to turn to the visual inspiration provided by Etsy and Pinterest, which will feed their interest in expressing themselves and learning to create things.”
Of course, as far as Creativebug is concerned, they have to care enough to pay to learn.
Creativebug already has hundreds of videos. The top three categories, according to Demand Media, are sewing ,yarn and jewelry. The average video length is about 30 minutes.
But with all the free content already out there, is this stuff really worth paying for? They charge $16.99 a month for access to unlimited workshops, and $9.99 and up to buy single workshops. When asked what users can get for their money that they can’t get from other sites, the company says, “They get to learn from world class experts in the craft field, which is not available on any other site.”
Demand Media is not disclosing the details of the acquisition. They’re also not disclosing how many paying members Creativebug already has.