Twitter is killing off its social media video-sharing app and platform Vine as it trims its headcount and costs. The social network said the Vine mobile app would be discontinued “in the coming months”.
Twitter said in a blog post: “Nothing is happening to the apps, website or your Vines today. We value you, your Vines and are going to do this the right way. You’ll be able to access and download your Vines. We’ll be keeping the website online because we think it’s important to still be able to watch all the incredible Vines that have been made.”
The app, which had 100 million people watching videos every month and 1.5bn daily video loops, launched video on Twitter. Sporting occasions, where goals, celebrations and highlights were shared in short looping clips through Vine, brought the app to a mainstream audience.
But user numbers have dwindled in recent years in their 10s of millions, while Twitter has integrated video sharing directly into its main mobile apps and experience, while also trying its hand at live video with Periscope.
Vine founder Rus Yusupov reacted to the news, appearing to express regret at having sold the company to Twitter:
Don’t sell your company!
— Rus (@rus) October 27, 2016
In June this year, Vine sought users to beta test a longer video feature, but it is clear that Twitter is no longer interested in supporting separate apps, only its core mobile apps and social network. The company recently made Periscope videos viewable directly within the main Twitter app.
Earlier on 27 October, Twitter announced hundreds of layoffs. The company’s quarterly results report revealed its revenue was a better-than-expected $616m and its earnings per share were ahead of analyst estimates, $0.13 to $0.09.
The company’s most important metric, its number of monthly active users, was also up: to 317 million from 313 million the previous quarter. Of those users, 83% were on mobile devices.
Twitter stock, down by more than 25% this year, rose slightly in pre-market trading.
Twitter typically announces quarterly results after the market has closed in New York, though the company is headquartered on the west coast; on Monday, the firm rescheduled its earnings call to 4am California time on Thursday.