Twitter Shuts Down Vine
Back in 2012 – Twitter purchased Vine for $30 Million USD as they attempted to work their way into the growing market of short video.
Whilst Vine was able to attract many users, Twitter was never really successful in monetising Vine videos and in a way became a technical burden on the company.
However larger players such as Snapchat, Instagram and Facebook have taken most of the short form video audience and Vine was left to pick up what’s left.
Twitter has now launched a new app called Vine Camera. This app will let users create videos and post them to their Twitter profile – but the actually commenting, liking and revining off videos will no longer be supported.
The new Vine Camera app is basically the video creation tool without any social media functionality besides ‘Share to Twitter’.
It will be interesting to see if Twitter keeps developing the new Vine Camera app to compete more directly with Snapchat and Instagram or will they simply look to consolidate their assets and focus more closely on the Twitter experience.