Shomi, the video streamer owned and operated as a joint entity between Rogers Media and Shaw Communications, will be shuttering at the end of November.
The Canadian streamer was launched in 2014, originally available to customers of Rogers and Shaw, before opening up to all Canadians last fall. Rival Bell Media also launched its own streamer, CraveTV, in late 2014. When Corus Entertainment purchased the assets of Shaw Media earlier this year shomi stayed with Shaw Communications.
“The business climate and online video marketplace have changed markedly in the last few years. Combined with the fact that the business is more challenging to operate than we expected, we’ve decided to wind down our operations,” said David Asch, SVP and GM, shomi in a release.
Rogers Communications is expected to incur a loss on investment of approximately $100 to $140 million dollars for its third quarter, which ends Sept. 30, 2016, according to a release from the company.
“We tried something new, and customers who used shomi loved it. It’s like a great cult favourite with a fantastic core audience that unfortunately just isn’t big enough to be renewed for another season,” said Melani Griffith, SVP, content, Rogers, in the release.
From Media in Canada