Media company CNN has closed down Casey Neistat's social media company Beme down after acquiring it for $25 Million late last year.
CNN gambled on the youtube alongside his business partner in the hopes that the app would grow along with Casey's youtube following which at the time sat at around 6 Million subscribers, although his youtube growth remained steady as the filmmaker has a current audience of around 8.8 Million subscribers, the app failed to take off after a struggle to launch correctly.
The plan for Beme was that it would be incorporated into CNN's network as a way of connecting with younger viewers through a means of media, however, it did not work out how CNN envisioned. Now with the closer of Beme CNN plan on further developing the products which Beme have been working on and still plans to employ the majority o the original 20ish employees.
Neistat and his business partner Matt will be leaving CNN and the beme team after a series of creative differences and ineffective process according to Neistat.
Casey Stated in an interview with Buzzfeed News how hard the process was for him saying "I couldn’t find answers. I would sort of disappearing, and I would hide, and I would make YouTube videos for my channel because at least I would be able to yield something,"
"I don’t think I’m giving CNN what I want to give them, and I don’t think they’re getting value from me."
With Neistat now leaving his company only time will tell if he continues to grow his Youtube channel which has amassed over 8 million subscribers or whether he will start a new business venture.
So sorry to hear this ....
I think Casey will do fine on its own. His videos are always very unique and hugh quality.
Also apparently the Beme youtube channel will continue and if they keep their style and quality they will grow a viewership on their own.