Yesterday online news and social media conglomerate, Twitter announced that they were shutting down their app, Vine. If you’ve forgotten what Vine is, (to be fair most of us have) it is a video-sharing app that allows users to record six second videos, which are then looped in a feed that is tailored to the user’s preferences. Twitter’s reasons for this action are yet to be given, but it isn’t hard to see why the cooperation has come to this decision.
It is no secret Twitter is currently struggling to meet financial targets, firing 9% of their global workforce and their share prices falling by 45% in the last 12 months alone. It can be argued that Twitter’s decision to close down Vine is because they see the app as financially draining, adding minimal revenue or value to their business.
Vine first launched in 2013 and is still a relatively new app. However, it does lack a lot of features that competitor apps such as Snapchat and Instagram have. There are thousands of social media platforms out there, and not every network is worth your time and efforts. When apps are as simplistic as Vine, and have little integration with other popular social media networks such as Facebook, Twitter, Snapchat and Instagram, it makes it much harder for people to connect with their wider base of followers and friends. There are no social sharing buttons, and it is easy to see the downfalls of Vine. This is even further reinforced with Instagram’s video app Boomerang, that allows users to create gif style videos that are played in a loop and easily uploaded onto multiple social media platforms.
With that being said, there was a clear Vine ‘community’, and many users of the app have risen to fame with their six second videos. It would be unfair and erroneous to say that Vine was a complete failure from the beginning, as some users have made huge financial successes. For example, 21 year old Ben Phillips has made a £12,000 windfall with a simple six second video, and brands had seen that there was monetary gain to be made with Vine campaigns through it’s most popular users during the first year of its launch.
However, the rise and fall of Vine has a clear message; if social media networks do not keep up with their competitors, and the demands of their users, their successes will be very short lived…