As part of Adobe’s acquisition of Frame.io, a video review and collaboration platform used by over a million customers, the company will pay $1.275 billion in cash. In 2014, Frame.io was founded by Emery Wells, owner of a post-production company, and John Traver, a technology specialist, to solve the workflow challenges filmmakers face every day.
Creative professionals are now able to streamline video creation processes by centralizing everything from scripts to storyboards to work-in-progress, and using the Frame.io platform to do so.
Founded in 2014, Frame.io was created by Emery Wells, cofounder and CEO of a post-production company, and technology expert John Traver, to provide filmmakers with real-time frame-accurate feedback, comments, annotations and approvals. As well as offering faster upload speeds, Upload.st competes with other cloud hosting services, such as Vimeo, Box, Dropbox, etc.
Over the course of its history, the company has raised more than $90 million in venture capital. In November 2019, Accel, FirstMark, SignalFire and Shasta Ventures joined the company in a $50 million Series C round. A round of funding led by Accel in 2015 was the company’s seed round.
According to Adobe, the combination of its creative software, including Premiere Pro and After Effects video editing software, and Frame.io’s review and approval capabilities would power the video editing process.
With Frame.io, customers can integrate non-linear editing systems (NLEs), such as Adobe Premiere Pro, into their existing workflow. By integrating with Frame.io, editors can upload directly to the platform and organize and share their products.
According to Adobe, video creation and consumption are experiencing tremendous growth. This can be due to the latest binge-worthy streaming series, social media videos that spark a movement, or corporate videos that enable remote workers to connect.”
Stakeholder feedback today is solicited through multiple different tools and communication channels taking place in the video workflow. “Frame.io eliminates the inefficiencies of video workflows by allowing users to upload, access, and collaborate on video footage in real-time across surfaces. This is a safe and secure experience.”
A regulatory approval and standard closing conditions must be met before the deal can close during Adobe’s 2021 fiscal year. Adobe will hire Wells and Traver as soon as the deal closes. Frame.io will continue to be led by Wells, who will report to Scott Belsky, Adobe’s chief product officer and EVP of Creative Cloud.
“Video is the most powerful medium” for creating emotional impact, according to Forrester Senior Analyst Nick Barber.
Frame.io brings together video editing and collaboration much like working on a Google Doc with colleagues, Barber said. “Adobe will also become a more prominent actor in the creative process following the acquisition. Adobe faces a big challenge when it comes to securing the adoption of this acquisition from hesitant or budget-strapped brands.
Both announcements did not outline what subscribing to Frame.io will be like in the future once the deal closes. The Frame.io service is currently available for free, for $15 per month, $25 per month, or for custom enterprise pricing based on the amount of cloud storage and users. At some point in the future, it is not difficult to imagine that plans like those will be seamlessly integrated into Creative Cloud subscriptions.
In the past, Adobe has attempted to add collaboration features to Premiere Pro, Photoshop, and Illustrator, but none quite like Frame.io. As an added bonus, Adobe could strengthen its stronghold on the creative industry as a whole by acquiring the company.