This morning at the South by South West festival, Vimeo revealed a new feature that will let content creators monetize their videos by charging viewers to watch. Dubbed Vimeo On Demand, the new service is only available to Vimeo Pro members and will let them charge a fee of their choosing to view their content.

At $199 a year Vimeo Pro is far from cheap, but the new On Demand service will most certainly help offset that by letting content creators keep 90% of the revenue generated from video sales. This service is expected to boost the Independent Film rental industry, something Vimeo has been experimenting with for over a year now.

Vimeo is kicking things off with the independent film "It's a Beautiful Day", which will cost viewers $2 a day or $6 to purchase the movie. "What used to be a confusing and labor-intensive process is now open and simple with Vimeo On Demand," Blake Whitman, Vimeo's vice president of creative development said in a statement. "We always strive to provide our community and visitors with the best experience possible, and this opens up a new world of viewable content and support for creators."