Vidme is shutting down, and it’s all the fault of Google and Facebook. The popular online video platform will go offline on December 15th, 2017, at which point all videos will be “permanently deleted from the Vidme servers”. And with that, Google and Facebook’s stranglehold tightens.
A Brief History of Vidme
Vidme was launched in 2014. It originally offered a simplified take on the idea of online video-sharing, with people able to upload videos anonymously without needing to register. It then evolved into a hybrid of YouTube and Reddit, with curated categories and content creators.
The site attracted millions of dollars in investment, and content creators started making some serious money. However, after just three years, Vidme is shutting up shop. And it’s because its competitors are so ubiquitous that it’s seemingly impossible for a new startup to succeed.
What Went Wrong With Vidme
In a blog post on Medium, Warren Shaeffer, the co-founder of Vidme, explained that the company “couldn’t find a path to sustainability”. Essentially, Shaeffer feels Google and Facebook hold all the aces, with multiple apps, user data, and the majority of online ad spending in the U.S.
This meant it was impossible for Vidme to scale to sustainable levels. Not enough users switched from existing services, which made it difficult to attract advertisers, which meant there wasn’t enough money coming into cover infrastructure costs, let alone innovate to attract new users.
The End Is Nigh for Vidme
New sign-ups and uploads are disabled already, and existing videos will be deleted on December 15th. All outstanding earnings will be paid out within 60 days, and paid subscribers will no longer be billed. Content creators should export their videos using the video manager ASAP.
Did you ever use Vidme? Were you a viewer watching the user-generated content? Or were you a creator uploading videos to the site? Are you disappointed to see Vidme shutting down? What do you think is the ultimate cause of its failure? Please let us know in the comments below!