Barry Diller’s IAC/InterActiveCorp is abandoning plans to create an on-demand video service that would have competed for eyeballs with Netflix, Hulu and HBO.
The service intended to entice Vimeo’s more than 200 million viewers to pay for exclusive content. Vimeo will instead focus on a suite of tools for filmmakers.
Vimeo “has decided not to proceed in offering a subscription based original program service scheduled to begin in ’18,” a spokesperson at the video service said in an emailed statement Monday.
Source:: AdAge – Digital