Popular video hosting service AllMyVideos.net announced last week that they will be going offline at the end of the month as they’re no longer profitable.
The company has displayed the following warning to users telling them to backup all of their content before it becomes inaccessible when they shutdown at the end of the month.
”We are sorry to inform everyone that effective October 23/2016 Allmyvideos.net will stop accepting new uploads and the site will close fully at the end of the month. We would like to thank all our loyal users and uploaders for their service over the last 5 years. Please use this time to backup any files from your accounts that you would like to save because once the site shutdowns there will be no access to any of the videos any longer,” reads the homepage.
The company has been around for 5 years and gets millions of views per month, but the lack of revenue is whats causing AllMyVideos.net to shutdown.
“Honestly, the main reason why the site is closing is the fact that the video hosting business is not profitable any longer, not by any means. Over the years making the site break even has become a massive issue,” Bill from AllMyVideos revealed to Torrentfreak.
Bill also goes on to say, “It’s very difficult to get ads that will cover the bandwidth. And AllMyVideos sold maybe five premium subscriptions a week over the last few months, for a total of around $200.”
While it may be sad to see the site go, the company is satisfied with the work they’ve done, and are looking forward to moving on with future endeavors.
Don’t forget to back up all of your content from AllMyVideos or you will not be able to access it after the site shuts down on October 31st/2016.
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