On Thursday, Adobe Inc. announced its new strategy to acquire Frame.io, a video collaboration software start-up.
This acquisition will expand Adobe Creative Cloud's collaboration services to video, building on recent creative collaboration innovations such as Adobe Creative Cloud Libraries, Cloud Documents, Design Systems in Adobe XD, Adobe Stock, and Adobe Fonts, all of which, when combined with Frame.io, will make it simple for teams to collaborate across Adobe Premiere Pro, Illustrator, Photoshop, and other Adobe Creative Cloud applications.
We know this news will certainly excite creatives in the retail industry in particular. Designing promotional materials requires back and forth liaison between content creators, graphic designers, editors, the marketing team, suppliers, and a whole host of other stakeholders before the catalogues, videos and social media content go public. The intricate detail in this Canadian Tire weekly flyer will show you what we mean. Having a single place where all feedback can be given for all to see and action in real-time is a great plus.
After realizing that its customers were utilizing Frame.io with Adobe's suite of products, Adobe wanted to buy it. They had considered developing their own tools to make it easier for teams to collaborate on video editing, but acquiring Frame.io was a more reasonable approach.
Frame.io is cloud-based; hence, it simplifies the video production process by allowing video editors and other key project stakeholders to collaborate in real-time, in a secure environment, utilizing cloud-based workflows.
Broadcasters, big brands, media agencies, are among the clients served by Frame.io.
These organizations' video teams must produce an ever-increasing amount of material, and each video project necessitates the involvement of a variety of stakeholders, including video producers and editors, brand managers, and various personnel.
The original technique of editing video, according to Alan Webber, Vice President of Customer Experience Research at research firm IDC, was for people to sit in a room together and go over changes together. "You can't do that in today's environment because people are scattered all over the place," Webber explained.
To collect stakeholder feedback, today's video workflows are disconnected, with many technologies and communication channels being employed. By allowing real-time footage upload, Frame.io reduces the inefficiencies of video operations.
"We've entered a new era of truly collaborative interconnected creativity, and we envision a world where everyone can contribute to the creative process," said Scott Belsky, Adobe's Chief Product Officer and EVP of Creative Cloud.
Emery Wells, CEO and co-founder, and John Traver, co-founder of Frame.io, will join Adobe after the deal is sealed. Wells, who will report to Scott Belsky, will continue to head the Frame.io team. The deal, worth $1.275 billion after normal acquisition price modifications, is expected to occur in the fourth quarter of Adobe's fiscal year 2021, subject to regulatory approval and typical closing conditions.
What hasn't been mentioned yet is what it will be like to subscribe to Frame.io after the deal has been closed. There's currently a limited version available for free, or you can pay between $15 and $25 subscription per month, or get custom enterprise pricing for varying amounts of cloud storage and users. Those subscription plans are anticipated to be seamlessly incorporated into a Creative Cloud package at some time in the future.
With the inclusion of Frame.io, Adobe Creative Cloud's commitment to facilitating collaboration among all stakeholders in the creative community will now extend beyond Adobe's products to a growing number of third-party applications throughout the creative ecosystem. This deal is a huge win for both Adobe and Frame.io.