Although Vine now lives on as Vine Camera, a six-point-five second long remnant of its former self, the Vine community no longer exists. While Vine influencers and brands struggle to regain footing through other social media platforms like Instagram and YouTube, it seems that only the major players have managed to cross-over smoothly. At its peak, Vine was considered one of the leading video platforms for influencers and brands. But why did Vine fail, and what are the major signs brands and agencies can monitor to know when to divest their media spend on declining social media platforms?
Vine was bought by Twitter for $30 million in October 2012. The initial premise of the app was that users could upload six-second videos on the platform itself, on Facebook, or on Twitter. Within months of its release Vine quickly rose to the top as one of the most used video sharing apps on the market; at one point Vine had reached 200 million monthly active users and 24 percent of American teenagers reportedly used Vine in 2015. Vine quickly became known for creative short-form comedy. Its top-stars, like Logan Paul, were able to charge over $200,000 for making one Vine for a brand. But in the span of four years since its release, Vine had managed to significantly slow down its growth rate–by 2016, it was already predicted that Vine would not be sustainable in the long-run.
What ultimately killed Vine was the inactivity of its top influencers, which was arguably the biggest attraction for the platform. Once influencers like King Bach and Thomas Sanders began generating traction on Instagram and (revenue-sharing) YouTube, Vine was already on the path to irrelevancy. For brands and marketers, the fact that Vine lacked a clear advertising model was another core issue that couldn’t be overlooked. Instagram alone boasts four different approaches with strong targeting capabilities yet Vine’s approaches were much more ambiguous. Another clear indication of Vine’s instability was its user growth rate, which had stagnated in 2014. As the years passed, Vine’s engagement rates also gradually slowed.
Trending Family recognizes the importance of optimizing your media mix across different social video platforms and partners with brands and agencies to develop relationships with top influencers. Don’t hesitate to contact us today for your next influencer marketing campaign!