Yep - on Vimeo you pay for various feature sets. The Free option is limited. Higher fee - more features.
It does have a lot of things that You Tube doesn't. Password to view, pay to view etc.
I get by on the $100 pa package. But I mainly use it to deploy videos I've been paid to make and don't want the You Tube clutter/intrusions.
Not music based - more for film maker and videographers looking for higher end features.
Vimeo gives better compression algorythms - ergo quality, better players and a better user experience.
You Tube is much easier to make a buck, but it's not a big earner.