Just a few months into its existence, Rdio has announced that it is shutting down Vdio, the video-streaming experiment it launched as a counterpart to its Internet radio platform.
The service was widely expected to be a major rival to Netflix, which has dominated the video streaming service sector for years, but was unable to live up to expectations. "We have concluded that we were not able to deliver a differentiated customer experience or a business model which was attractive to shareholders," the company wrote on its website.
In a letter sent to customers, Vdio apologized for not being "able to deliver the differentiated customer experience [it] had hoped for." It's offering Amazon gift cards to users as compensation for purchases or ongoing rentals that will end prematurely.
Another one bites the dust, leaving the movie and TV show streaming market wide open for disruption.
[via TechCrunch]
