Twitter Kills Its Standalone Live-Streaming Service Periscope

Twitter Inc TWTR announced on Wednesday that it will discontinue its live streaming portal Periscope as a distinct mobile app by March.

What Happened: Twitter says that Periscope is in an “unsustainable maintenance-mode state” and the costs to maintain the streaming portal would rise over time. Additionally, as per the social media platform, the usage of Periscope is also on the decline, offering little to no incentive for keeping the platform operational.

The portal is no longer accepting requests for new users and an app update would be out soon to that effect.  

Why Does It Matter: Periscope streamers can download all of their previous videos from the video archives. All videos broadcast shared on Twitter will be available for replays.

According to The Verge, the Periscope website will continue to stay functional solely as a read-only archive of previous public broadcasts.

The Jack Dorsey-led company claims to have embedded most of Periscope’s core features. Instead of Periscope, users can now still stream live videos through the Twitter Live feature.

Periscope Super Broadcasters have until the end of April to withdraw and encash their tips.

Price Action: TWTR stock closed 1.54% higher at $52.82 on Tuesday.

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