The fledgling video streaming service Vdio, an offshoot of the successful Rdio music service, is shutting down after the company explained they cannot offer anything new in the crowded streaming TV sector.
The Vdio product which only launched last April and was available as a browser and an iPad app, allowed users to buy and rent movies and TV shows, just like Amazon Instant. Existing customers who have purchased goods or have credit will be offered Amazon gift cards instead.
The news comes shortly after Rdio installed a new CEO, Anthony Bay who moved from Amazon to take the helm on December 3. Rdio which launched in 2010 will be concentrating it’s efforts back to it’s music service, offering millions of free ad-supported streaming songs just like rival Spotify.