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Gfycat is shutting down September 1st
(gfycat.com)
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this post was submitted on 02 Jul 2023
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I guess it's just impossible to make these types of large media storage sites profitable. The business model itself is inherently unprofitable despite there being a need for these sites. Like youtube will never bring a cent back to google, but they keep running it because it locks people into their ecosystem for data harvesting.
Could also be that snap bought gfycat just to kill it.
Youtube is definitely bringing back a profit to Google. Probably not huge, but definitely far from 0% return.
Now they did have to shove way more ads in there to make it happen.
Having an acceptable ratio between ads and a big media storage seems pretty much impossible, unless subscription based which most people can't really afford.