Go90 will no longer be available on July 31.
Verizon couldn’t figure out how to make a video streaming service for millennials, so it’ll shut down Go90 this summer. The service, which launched in 2015, was made specifically for young people as content on mobile devices became more popular. But the idea never caught on with the very group it was targeting.
Here’s what a Verizon spokesperson said:
“Following the creation of Oath, Go90 will be discontinued. Verizon will focus on building its digital-first brands at scale in sports, finance, news and entertainment for today’s mobile consumers and tomorrow’s 5G applications.”
All shows and content rights that made their way onto Verizon’s service are expected to return to their creators, according to Digiday. Verizon’s already started contacting partners about the shutdown.
The stuff you’d find on Go90 came from media brands like AwesomenessTV, Complex Networks, Vice Media, and Endemol Shine.
Everything that went into Go90 is estimated to have cost more than $1.2 billion. The nation’s largest carrier can withstand that type of write-down, but its foray into video streaming will always be seen as a failure.
The employees who worked on Go90 are in limbo. Some are being relocated within Oath, and Verizon says it’ll be forced to eliminate others due to redundant positions.
Go90 is nearing the end, and the company also confirmed it won’t be launching a live TV streaming service. So there’s no clear idea of how Verizon will try innovating while the competition gets bigger in all areas.
For now, it looks like Verizon will just continue allowing its brands to create and distribute their own content.