Cracks propagating in elastomers consume the strain energy available in the body through viscoelastic effects and the creation of new fracture surfaces. Determining the energy consumed by the dissipative and the fracture processes explicitly helps understand the fracture mechanisms better and if they are rate-dependent. In literature, crack propagation experiments are usually performed on thin sheets of elastomers. The displacement fields in the body as the crack propagates through it during the experiments can be accessed using the Digital Image Correlation (DIC) technique. These displacement fields can then be used as boundary conditions in finite element analysis to compute the energy evolution in the body. Using an appropriate material model to describe the bulk material, the strain energy and the viscoelastic dissipation can be computed, thereby allowing to study the energy evolution in the body as the crack passes through.In the current study, the behavior of the elastomer material through which the crack passes has been described by the finite viscoelastic (FV) model. In such models, the viscoelastic effects are described by using some internal variables, whose evolution is prescribed through certain constitutive equations. This article first discusses the implementation of the FV model for plane stress conditions and applies it to study the dynamic fracture of elastomer membranes. The crack propagation through an elastomer is simulated by imposing the displacement fields extracted from the experiments along the crack faces onto the finite element model (thereby implicitly imposing the crack speed). The energy evolution in the body is studied to compute the energy release rate and the dissipation in the body as a consequence of viscoelastic effects. A significant portion of the energy has been observed to be consumed as the viscoelastic dissipation in the bulk material as the crack propagated.