If you stepped in late, it sounds awfully dull.
An announcement Tuesday tells us all that "certain assets" of a "white-label" online video service called Joost have been acquired by Adconion Media, which calls itself "the largest independent global audience and content network." The acquisition "will be able to provide advertisers, content owners, and Web site publishers with an end-to-end global video platform and cross-channel video and display ad-serving solution," according to a statement from Adconion CEO Tyler Moebius. Financial terms were not disclosed. Yawn.
But really, it's an exceptionally anticlimactic ending for Joost, a company so secretive and hyped that it was once known, James Bond-like, as "The Venice Project," and which was supposed to kill YouTube and that dastardly Cold War villain known as your cable company. It was a scrappy start-up with roots in lawlessness--founders Janus Friis and Niklas Zennstrom had built onetime file-sharing hub Kazaa--but major street cred, too, as they'd also founded Skype and sold it to eBay. There were impressive backers, too, including CBS (which owns CNET).
What went wrong?
Well, there was a big issue with Joost's downloadable peer-to-peer app. By the time it was released, Web-based video was advanced enough so that a required download was a barrier to entry, not a technical leg up. Some of the big-name content partners seemed to be putting in a halfhearted effort with Joost, offering up reruns and esoteric programs instead of the new programming that people actually wanted to watch.
But perhaps what really doomed Joost was something that was itself supposed to be a flop: When NBC Universal and News Corp. announced their plans to create an online video hub that would rival YouTube and address the rampant issue of piracy, it was referred to disparagingly as "Clown Co." We all know how that one turned out. The finished product, Hulu, was extremely well-received and continues to expand its video library.
There was, briefly, a time when it looked like there was a slight chance that things might turn up for Joost. It did, after all, beat most of its competitors to the release of an iPhone app, and a focus on niche content like Japanese anime seemed like a viable business choice as Hulu increasingly placed an emphasis on the mainstreamiest of the mainstream. Unfortunately, that didn't work either.
There was "a major retrenchment" as Joost reined in its lofty plans. Then it switched business models altogether to the far less glamorous "white-label video solutions" modus operandi.
And then the management debacles became evident. CEO Mike Volpi resigned and then was ousted by shareholders from his role as chairman. Oh, and then the company sued him. Nasty.
Sometimes hype plays out well. Sometimes it just doesn't, and Joost was one of those cases. In spite of the founders' prior successes, truckloads of venture capital dollars, and a few early and impressive content deals, it flopped. The end. Now, per Tuesday's release, it'll be "(adding) many dimensions to Adconion's existing video services and further will solidify its position in the online video and content syndication market."
That's a pretty nice way to put it.
Anybody else sort of see this one coming?
It's a matter of weeks before the U.S. cuts out analog television signals entirely, switching to an all-digital market, but the fund established by the government to provide $40 subsidies to people who need to purchase digital converter boxes is out of money and has established a wait list. More than 100,000 people had already been wait-listed as of Monday, USA Today reported.
So, if you rely on "rabbit ears" and are still in need of that coupon, here's what to do. The application process on the TV converter box Web site is still the same, but now, you'll be put in line for the first-come, first-served waiting list as more funds become available. You'll also be given a reference number, much like a package-tracking number, that you can input into the Web site to check up on the status and check up on your estimated mailing date.
The all-digital transition is set for February 17, which means that more than 70 million analog televisions in the U.S. will be rendered useless unless they have the proper converter boxes to work with their indoor ("rabbit ears") or outdoor antennae. USA Today reported that the Department of Commerce's National Television and Information Administration isn't sure when more funds will be available, and attributed the shortage to a surge in coupon requests late in 2008 that exceeded expectations.
One option for the government is to delay the analog-to-digital transition--again. In the meantime, the Web site recommends some pricier alternatives: buy a converter box without the coupon, buy a digital TV, or subscribe to cable or satellite programming.
Or you could just ditch your TV and just go outside instead. The digital TV transition Web site, however, does not suggest that.
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