Vimeo kills plans for subscription video service meant to rival Netflix, Hulu & others

"Vimeo has confirmed that it has decided not to proceed in offering a subscription based original program service scheduled to begin in '18," a spokeswoman told The Hollywood Reporter. The company had little else to add, except for a statement from interim CEO Joey Levin, who noted that Alana Mayo — hired from Paramount Pictures to head up original programming efforts — has left the company.

"She and her team are creative, sharp, risk-takers, and I believe will all, to a person, have an incredible future in programming. But the opportunity ahead for Vimeo to empower creators is too large and too important for us to attack with anything other than absolute focus and clarity," Levin said.

The Reporter wrote that Vimeo is in fact dissolving the entire associated development team, despite having publicly committed to spending "tens of millions" on an on-demand service last November.

The company would have faced an uphill battle, given not just the size and popularity of Netflix but YouTube's own moves into original content through YouTube Red. Many other technology firms are also looking to lure video customers, such as Hulu, Amazon, and Facebook.

Even Apple has entered the fray by way of Apple Music. Earlier this month it premiered its first TV-style production, "Planet of the Apps,", and another — "Carpool Karaoke" — is due on Aug. 8.