It’s no surprise that Twitter is struggling financially as it is not doing well as compared to other social media sites. Lately, Twitter has been in the news for the announcement that it is saying Goodbye to its ‘Vine’. Now it is clear why twitter had to lay off more than 350 employees from the social media platform.
Lets us read the top reasons which insisted twitter to shut down Vine.
1- Twitter was lacking the budget to financially support the Vine
We are not saying that twitter has been bankrupted but the fact is twitter is going through a hard time. Twitter is not gaining much economic profit from its large network in spite of working efficiently. According to a published report, the current stock of Twitter rests at $17 billion that used to be $31 billion initially. This is why Twitter had to pave an outdoor way for 350 of its employees.
2- Vine failed to compete with Instagram
Since 2013 Instagram never looked back and its growing publicity is perpetually making a furor in the city. The excellent features of the application allow you to make 15-seconds video which is quite bigger duration than that of Vine’s 6-second video. Average users along with the Vine stars wanted more time for their videos and as a result, they said goodbye to Vine and adopted Instagram for posting their videos.
Instagram with more modern and updated features has rendered Vine outdated and gifted users a better and improvised social network to connect to.
3- Vine Stars walked away from Vine
Vine stars were the real hero behind its popularity and success for a time being. In the beginning days of Vine, people used to love its nonsensical art of creating videos and getting into the loop of the same. Vine enables to share funny videos with friends and family.
Vine helped each of its users become a Vine star but after they became bored of the same they walked away from it. Maybe they realized that they won’t be able to gain fame after being in contact with Vine.
4- Advertising companies were less interested in Vine
Long story short, Vine failed to provide any real financial output to Twitter. One of the facts which speak about the failure of Vine is that advertisers were less interested in the application. Because of the short span of videos, it was not possible to feature advertisements. Instead, the advertising companies turned their way towards Instagram, Snapchat, and Facebook.
These were the true reasons behind the failure of Vine. A successful journey needs a struggled path but sometimes sincere efforts play the key role in achieving the success. Failure and success are the truths of life. Twitter took a favorable step which they think to be in their favor.