Vimeo, the online video specialist owned by IAC, confirmed that it has scuttled its plan to develop its own subscription video service.
"Vimeo has confirmed that it has decided not to proceed in offering a subscription based original program service scheduled to begin in ’18," an official said in a statement.
Vimeo has been asked for further comment on its decision, but The Hollywood Reporter said Vimeo has dissolved a development team that was looking to acquire content for the proposed offering, and that it will instead “refocus on its creator community.”
Vimeo also confirmed that Alana Mayo, who joined the company in March from Paramount Pictures to head up Vimeo’s original content development, has left the company.
