Vine one of the internet’s most iconic and creative social media platforms, has officially shut down. Leaving a legacy of music, comedy, creativity, ideas, and even vulgarity. RIP Vine: What mistakes did they make?
It all begun very optimistic, but what about the revenue? Isn’t it what a business is all about? (Along with a great service, of course) the founders resisted monetization from the beginning, the brands found on Vine an interesting audience of millions and they were making deals directly with the Vine stars making Ads in order to share them with their million of followers. What mistakes did they make?:
1. Vine never had a cut of the brands’ deals with Vine stars
2. Vine didn’t move fast in order to be different and keep growing.
After Snapchat and Instagram videos grew into millions of daily users, brands’ interest in Vine dropped.
Twitter tried to sell the app, but never found a buyer. And now all that’s left is a ‘Vine Camera’ app, is anyone using it? So what’s the lesson we can learn here? Look out your competitors, never underestimate the competitive market and make decisions, change things, try strategies, in other words always keep walking.