Well, it seems like Joost decided to downsize and reorganize after losing the consumer-oriented advertising-supported video market to competitor Hulu. It was a tough fight between the two companies, however, Hulu had the hand support with NBC Universal, News Corp., and Disney supporting them. It also helps that Hulu had a better premium catalog that people actually want to watch.
When it was founded in 2006 Joost was the first Web company to sign online distribution deals with big media companies (CBS and Viacom) and it attracted more than $45 million in investment. But in the words of Advertising Age, both Joost and the Michael Eisner-backed Veoh (which has already given up online ad-supported streaming) were “blindsided by Hulu, which was backed by NBC Universal, News Corp. and, more recently, Disney. Hulu has both a far superior catalog of premium video and has gathered up much of the available ad spending in the premium-video space.”
So now Joost will be offering their services to other companies that wish to provide online video. For your information, Joost was one of the first companies to stream anime online legally.
Thank you Joost for the memories and good luck.
Source: ICv2
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