Chart of the Week: Where Will Vine Users Go Next?
Last Thursday, amid earnings calls from Amazon, Apple, and Google, Twitter dropped a few surprises: first, while it’s still planning to lay off 9% of its workforce, the company actually beat Wall Street expectations with its latest earnings. And secondly, Twitter announced it’s shutting down Vine, the short looping video app it acquired for $30 million in 2012.
Vine Users Already Switched to Other Video Apps
Faced with increasing competition from Instagram, Snapchat, and even Periscope (the livestreaming video app that Twitter bought last year), Vine struggled to retain its “Vine stars” and, more importantly, the Vine users who watched endless 6-second video clips.
While die-hard Vine fans have been posting heartbroken tributes to the app since the shutdown news broke, Verto Analytics competitive cohort data shows that the majority of Vine user have already been dabbling with other services: in the three months leading up to October’s shutdown announcement Vine users in the U.S. (among adults, ages 18+) Vine’s users were already using other popular rival video apps in increasingly large numbers. In July, 86% of Vine users also used Instagram, while 80% of Vine users also used Snapchat. By September, these numbers had grown to 97% of Vine users who also used Instagram, while 86% were also using Snapchat.
While news of Vine’s imminent demise has already produced a wealth of looping video tributes, it seems that most users will be quick to find an alternative service to use – and perhaps an even larger audience to share their short videos with.