Remember Vine? The scrappy Instagram competitor that specialized in short, looping videos to share with friends and followers?
Whether you’re someone who misses Vine, is glad it’s gone or had completely forgotten about the platform, a new version of the app is currently being developed for launch. World, it’s time to get ready for v2…
In the simplest terms, v2 is a video app to replace Vine. Vine co-founder Dom Hofmann first made his interest in a follow-up to Vine public on social media in November 2017. On January 22, 2018, Hoffman announced the @v2app Twitter account, cementing his plans to launch a new version of the retired video-sharing app.
Hofmann is developing v2 without Twitter, which currently owns Vine and is not said to be affiliated with the new project. He has explicitly requested that people refer to the new platform as v2 (lowercase if you want to be precise).
Founded in 2012, the original Vine was a short-form video app that allowed users to capture, loop, and share 6.5-second clips. Shortly before the app’s official launch in 2013, Twitter acquired Vine for a reported $30 million.
After a myriad of problems during its four-year life, however, Vine’s social platform was axed on January 17, 2017. Since then, Vine has lived on as a photo and video app called Vine Camera with no social or network features.
There’s no firm launch date for v2, but Hofmann has stated it will arrive in 2018. Additionally, the former Vine co-founder has teased out some of v2’s features, which include:
From harassment within the community to lack of native advertising options to insufficient compensation options for creators, the original Vine was riddled with a variety of problems.
One of Vine’s chief issues was that there was no way for influencers to make money directly through the platform. On the other hand, Facebook and YouTube all offer options for creators to share in the revenue they generate.
In the fall of 2015, after noticing declining engagement and views, 21 top Vine influencers approached Vine’s creative development lead with a proposition, where each would make 12 Vines a month (3 per week) for $25.5 million ($1.2 million per person). Additionally, the Viners suggested improvements to the platform, which included:
Related Post: Where Did Twitter Go Wrong With Vine?
Both the monetary request and platform suggestions by top influencers were rejected by Vine, as was other creator feedback. Influencers felt like Vine didn’t support them and, shortly thereafter, they (and their audiences) started to leave Vine for other platforms (not dissimilar to Snapchat’s original treatment with its influencers and subsequent fallout).
With more than 9.3 million followers on Vine, prominent influencer Logan Paul decided to exit the network stating, “Vine has plateaued. It had its spike in the beginning and it’s the reason why Instagram has a video feature now since they had to compete with it.” Like Paul, several top Viners felt that the app no longer supported their work and decided to leave as well.
If v2 doesn’t address the problems of its predecessor, especially when it comes to monetization and supporting its creative community, it may have no better chance of succeeding than the original Vine. Reactions from former Vine stars about v2’s launch have been mixed, with some offering optimism, others skepticism, and many using the opportunity to crack a joke at the expense of the two platforms.
Many of today’s top influencers got their start on Vine. While the app was eventually shut down, the prospect of online stars migrating and/or emerging on a platform like v2 is definitely possible.
However, many of the original top Viners have since found success on platforms like YouTube, Instagram, and Snapchat, and starting anew on v2 might not be worthwhile or necessary for them. At the same time, if v2 can learn from other platforms that nurture and support their creators, perhaps the new app would be attractive to its former stars as an additional form of revenue. Moreover, new stars could emerge on the app.
If v2 is successful in catering to its creators’ needs, it could be a huge platform for influencers and their followers. Through influencer marketing, v2 could then offer unique opportunities for brands to connect with specific audiences.