Another one bites the dust, as they say, as Vidme will suspend operations on December 15th at 3 pm ET/noon PT.
Without a way to compete with Facebook and Google, Vidme co-founder Warren Shaeffer stated that they don’t see a “path of sustainability as an independent VOD platform.”
Shaeffer, in a blog post on the site, also assessed Vidme’s lack of critical mass when it came to audience size, so they “struggled to get direct advertisers to help offset [our] infrastructure costs.”
Fortunately, with the suspension of Vidme services comes the opportunity for something new:
While we’re disappointed to close something that we put so much of our hearts into, we’re excited and eager to apply what we’ve learned to our new product, which we’ll be announcing next year.
In the meantime, we’re talking with some creator-focused companies that might incorporate our technology and revive Vidme in some new form in the future.
Editor’s Note: The duopoly of Alphabet and Facebook strikes hard when it comes to video content. However, Vidme did have a lot of good ideas going for it, which YouTube eventually gleaned from them, such as tipping content creators. If you’re also considering building a video platform, the blog post linked above also offers a good insight. While Vidme’s future wasn’t bright, the people behind it were, and I hope they find success in the months to come.