Video services like YouTube has and still does rely on advertising as a means of generating revenue for themselves as well as for content creators. However in recent times YouTube introduced a subscription based service in the form of YouTube Red which grants access to exclusive content and removes ads for a monthly subscription fee.
This is why last year when we heard that YouTube competitor Vimeo was planning a subscription-based streaming service akin to Netflix, it didn’t really come as a surprise. After all Vimeo’s plans are pretty much in line with what the folks at other companies, such as Facebook, are working on as well. Unfortunately it seems that Vimeo’s plans have been cancelled, according to a report from The Hollywood Reporter.
In a statement provided to the publication, a Vimeo spokeswoman was quoted as saying, “Vimeo has confirmed that it has decided not to proceed in offering a subscription based original program service scheduled to begin in ’18.” The company has declined to elaborate further on why their plans were scrapped, or what this could mean for the future of the company.
That being said, we have heard that even Apple has been having some trouble getting their own TV service off the ground, so perhaps Vimeo might have run into similar problems, or it could be something else entirely, but basically if you were hoping for a new video streaming service from Vimeo, you can pretty much scratch that off your list now.
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