Has Wedio Created the Airbnb for Camera Gear?

Has Wedio Created the Airbnb for Camera Gear?

Whether it’s Uber, Turo, or Airbnb, the sharing economy has been behind some of the biggest changes in how people use their car or home. Wedio has launched a new twist on photo and video gear rentals that might just change how everyone buys and owns their next camera.

A few weeks ago, I wrote about how your next camera might be a subscription, where I explored some of the potential changes to the traditional dealer-based business model. It’s been an idea that has interested me for a while, as these same trends are already shaping other capital-intensive markets like cars and homes.

What makes Wedio special is their merging of a pro-film gear subscription with the ability to rent that gear out to other users. Through this model, photographers and videographers can reduce their costs on both ends by paying a subscription fee far smaller than the upfront purchase price and further reducing that cost by renting out that gear through the marketplace when it’s unused.

While Wedio’s rental service has already been around for a while, with over 3,000 members and over 10 million euros worth of gear, their subscription service is brand new. The subscriptions cover cameras, lenses, audio, lighting, and supports like tripods or gimbals. Once you’ve rented a piece of gear, you’re only paying a fixed monthly cost, which you can further reduce by “subletting” that gear to other users on their platform. Wedio claims you only need to rent the gear out for two to five days per month to cover the whole subscription, if you choose to do so.

For the user, the terms are quite flexible. Pricing is based on a monthly payment, with no hidden fees or shipping cost. Included in that figure is global insurance coverage for things like accidents and theft, which can represent another savings to pros who’d otherwise need to purchase a separate policy. Additionally, those payments can also count towards the future outright purchase of the gear, providing a clear path to ownership if desired. Lastly, the subscription can be discontinued at any time.

In any of these marketplaces, one of the biggest factors is the availability of the product, and this is one area where Wedio succeeds. Taking a look at cameras, for instance, shows 39 different bodies available, covering everything from GoPros to ARRI ALEXA and RED. The same holds for all their other categories, with dozens of the newest releases showing up from the major, marquee brands.

I’ll be very interested to see how Wedio executes on this strategy, as I think it holds a lot of promise for photographers and videographers. Whether you’re just getting started in the space or are looking to expand and update your equipment, you now have another option besides shelling out thousands of dollars to buy the gear upfront. Combining that subscription with a sharing economy marketplace offers even more flexibility for users, making this a very attractive option for creators.

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13 Comments
Andrew Eaton's picture

Should be noted if the Renter takes your gear on helicopters, drones, gyroplanes and alike are your kit is not covered by the insurance...

Daniel Sand's picture

Hey Andrew,
Yes — you are totally right. For now, our insurance does cover globally (with a few exceptions) but not drones. Drone insurance will be the next extension of our insurance.
If you have other questions, let me know :-)
All the best
Daniel

Alex Coleman's picture

Not really. There's a number of companies that have done "peer to peer" gear lending - what's new here is the ability to get the piece of gear as a subscription.

What makes that unique is the ability to both build equity towards ownership and the ability to reduce your costs with less upfront spend/ the ability to rent the gear out to others to defray your costs.

Alex Coleman's picture

I can't speak to their roadmap, but given the landing page is 50/50 between the two sides of the business, I think this isn't just an add-on for them.

Daniel Sand's picture

Hi Dan Howell,
Thank you for taking the time to engage :-)
As Alex Coleman point, Wedio Subscription is as important as our peer to peer side of things.
Our promise to our members is to let them access gear for as long as they want and need to — even if its daily, weekly or monthly. And for that our Subscription is crucial for us to keep on delivering that promise to our community.
If you have more questions, please feel free to reach out.
All the best
Daniel

Martin Van Londen's picture

ShareGrid.

Daniel Sand's picture

Hey Martin,
Thank you for your comment.
Indeed, ShareGrid is awesome!
With more players doing (in some points) similar concepts, my hope is we together are educating and forming a future where no creator will ever have to compromise on their gear again — which for the Wedio Team, it's all about :-)
All the best.
Daniel

Matthew Lacy's picture

I note that the majority of the gear seems to be aimed at videographers, not photographers.

Daniel Sand's picture

Hey Matthew Lacy,
Thank you for engaging.
Yes. Our gear is primary focusing on filmmaking and cinematography.
Around 20% of our members though are Photographers only.
For Wedio Subscription, we can source gear for both Video and Photo.
All the best
Daniel

Dan Marchant's picture

Does the insurance also cover "voluntary parting"? If I give/rent a camera to someone and they don't return it a theft policy won't cover the loss.

Daniel Sand's picture

Hey Dan Marchant,
Thank you for engaging.
Yes. Our insurance does cover voluntary parting.
You can read more about Lender Guarantee here: https://support.wedio.com/en/articles/4350692-am-i-covered-if-the-renter...
Let me know if you have any other questions :-)
All the best
Daniel