US wireless major Verizon Communications said it will be closing down its mobile video service go90 due to poor performance.
Verizon, the second largest telecom operator in the US, could not generate enough viewers for go90 that was put under the umbrella of Verizon’s subsidiary Oath. Verizon launched go90 less than three years ago.
The strategy of Verizon was to boost revenue through data usage and targeted advertising from popular brands. AT&T, the largest operator, acquired Time Warner, a media giant, to boost its entertainment income.
“Following the creation of Oath, go90 will be discontinued,” a company spokeswoman said in an email. “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.”
Verizon earlier acquired digital media brands such as Yahoo with AOL. Verizon has spent about $1.2 billion on Go90 since its 2015 launch, Digiday reported.
Representatives of go90 have started informing content providers about plans to end both the go90 brand and the video streaming app by July 31.
