Not too long ago, Joost was the poster child for the online video revolution. It featured a slick desktop player with innovative controls, good video quality, and it was developed by the team behind Skype and Kazza. It seemed like nothing could go wrong here, but somehow, Joost never managed to get any traction and after the first hype had died down, most users just abandoned the desktop player for in-browser video portals like YouTube and Hulu. After a long delay, Joost finally abandoned its desktop player strategy, but the company never managed to attract a large enough user base.
Today, Joostannounced that it is mostly abandoning its original strategy and that the company will focus on offering white label video solutions for media companies and distributors instead.
A New CEO and Fewer Employees
As Mike Volpi points out on the Joost blog, the company will also downsize its staff in New York and London, and shut down its development center in the Netherlands. Joost will continue to host content on Joost.com, however, and keep the portal running for the time being. The focus of Joost, however, will be on the white label platform, which the company describes as a “cost-effective, end-to-end solution for media companies to publish video under their own brands.”
Volpi also announced that he is stepping down as Joost’s CEO. Matt Zelesko, Joost’s current SVP of engineering, will replace Volpi as CEO.
Lots of Competition
Joost is entering a pretty crowded market, with Brightcove, Viddler, EdgeCast and many others vying for customers. There can be no doubt that Joost will be able to deliver the technology, but we will have to wait and see if Joost can make this transition and attract enough customers for its white label solution.
