Vimeo has decided not to launch the subscription video service it announced in a shareholder letter last November and planned to unveil sometime in 2018.
The letter outlined Vimeo’s intention to spend tens of millions on new original content in an effort to “follow in Netflix’s footsteps,” but according to The Hollywood Reporter, that plan has been completely abandoned and the development team tasked with the project has been disbanded. The announcement comes as a bit of a surprise, as Vimeo just hired Paramount Pictures’ Alana Mayo to head its original content division in March.
The first Vimeo-funded web series High Maintenance was incredibly popular and later became a half-hour drama on HBO. The next high-profile series, with...
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