A hot topic in the new and on social media lately is the apparent shutting down of vine. Twitter bought vine for $30 million in 2012. But now, Twitter is in a financial crises and has reportedly laid off 9% of it's workforce. Vine was the No.1 in the iTunes app store within the first six months of it's release. But this popularity was hard to maintain in competition with other social media sites and Vine's popularity had declined in recent months. World-wide downloading of the app has also declines 55%. Twitter is now showing more attention to Periscope, which they hope will bring in new revenue for the company.
We live in a very unique generation, and trying to explain this type of situation to someone in 1990 would be downright impossible. When ENIAC was first introduced in 1946, no one could have imagines how much computerizes and technology would be apart of our live today.The creation of YouTube in 2005 lead the door to a new age of social media outlets, and digital creativity. Nowadays, social media sites have connected people in a worldly sense, and have become people's source of income. But with this being such a new idea, there is no standard yet of how these things should operate or if they are even sustainable. I know people are focusing about the loss of a little app to create fun creative videos, but this possible create a precedent for future social media companies? Has the focus of these companies shifted from offering an creative outlet, to solely producing a profit? And if these companies fail to do so, with they be sold, redesigned, or shut down completely? If so, musical.ly should be the next one to go.
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