Twitter Video Platform Vine Is Losing Advertising And Market
The six-second video application by Twitter is losing advertisers and the market to its major competitors Snapchat, YouTube and Facebook.
Twitter famous video platform, Vine, was once at the top of its game, getting huge amounts of attention from analysts, investors and the market. It was thought to be an excellent tool, providing the customers with a platform where they could share their ideas in six-second video. The attention and fame did not last long for the platform unfortunately Facebook and Snapchat stole the spotlight from ‘vine’ by their innovative and moderns formats of video content.
Vine is slowly diminishing because of the wide popularity Snapchat’s live stories is gaining. This is not the only competitor and the video platform of Twitter had to deal with major video giant such as YouTube, which are also in the game if live video content. Vine has lost and is losing many of its markets shares, it made only 113 to 2500 video from September to November due to difficulties of getting a vast variety of customers and audience.
The social media network video platform has lost its charm attracting publishers and advertisers, a digital strategist, Tyler Hissey, said, “Over time, it became difficult for many marketers to achieve scale on vine. In the last six months or so, brands have started to de-emphasize Vine as a channel because of the targeting capabilities on all these other platforms.” The social giant video service is losing mainly because it does not contain any adverting model that its competitors do. The videos are highly entertaining but are incapable of generating revenues for the publishers, making the platform’s business strategy very unattractive.
Vine limitation of only 6 second to make any category of video content for publishers also creates difficulties to gain audiences and publishers. This limitation is on the tweets too, with limitation of characters on tweets made. Such limitations make the customers angry and unsatisfied with social networks, as makes them unable to express themselves properly. Social media advertising is very important for monetization and attracting publishers as money is the motivations to create content, of that doesn’t exist, publisher wouldn’t prefer giving out ideas for free without any gain.
A good model of business and strategy that includes advertising can help Vine get back up on its feet again. Mountain Dew has an account on the platform but has not been used since April. The company said vine had achieved 200 million viewers in August, which is half in comparison to Instagram. However, vine was aiming to be an entertainment serviced rather than a social network.
The product manager of the video platform, Jason Toff said, “When vine started it was a social network. But what we’ve found… is that the way people are most successful using vine is as an entertainment network. So if you look at the product releases we’ve focused on, you’ll notice that there is a trend toward this entertainment aspect.”
Twitter stock closed at $24.46, going red by -2.24% on December 8.