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Vimeo, IAC’s user-generated video site, is set to start offering videos in 1280x720 pixel format, making it the first site to give user-generated videos an opportunity to be displayed in high def. Vimeo focuses largely on amateur filmmakers, so offering the capability to upload your work in HD is definitely a good way to lure those concerned with quality.
According to The New York Post, Vimeo currently has about 250,000 registered users and draws 900,000 monthly unique visitors, a tiny amount of traffic compared to the leading online video sites. However, the site might be able to carve out a nice niche for itself with a focus on high quality amateur content, similar to what Blip.tv has done with video bloggers.