YouTube is full of movie trailers and there is a fair chunk of TV content too. Vimeo has always trailed behind YT, mostly because of scale. But now Vimeo has taken a step in a different direction to YouTube. Instead of stinking up the product with ad space, they've moved towards becoming an 'on-demand' film and TV product.
Such a brilliantly simple tweak to the user experience, but when you think about the service design change you can see it's a big shift in thier product.
So far the catalogue leans towards independant, low budget content, but I'm really excited about where this goes.