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article imageShomi, a video streaming service, to shut down as of Nov. 30

By Owen Weldon     Sep 28, 2016 in Technology
Shomi, a video streaming service that was launched in 2014 in Canada and was offered as an alternative to Netflix, is shutting down in November.
The service, which is backed by Canadian communications companies Shaw Communications and Rogers Communications, was offered as an add-on for Shaw and Rogers' Internet and cable subscribers. It was also offered as a standalone subscription to others. However, Shomi has not been able to sustain itself, hence the reason for it shutting its doors.
Shomi made the announcement that they were closing on its websites. It said that existing customers can continue to use the service until November 30. New customers are not able to register for an account.
Rogers ended up spending an estimated $75 million to $105 million on the service. The loss will be booked in the quarter ending on September 30, while Shaw wrote down that it incurred an accounting charge of around $38.5 million for its part in the venture.
In a statement released two days ago, Rogers thanked customers who subscribed to Shomi. It added that at the end of November, Shomi will go dark.
A spokesperson for Shomi said that over 19,000 titles and 118 exclusive TV series is available. David Asch, Shomi's senior vice president and general manager, said they were grateful that Canadians invited them into their living rooms and they took them with them on their mobile devices.
Asch added that within the last few years, the business climate and online video marketplace have changed and that the business became more challenging to operate than they expected. He said this was why they've decided to close.
Rogers is expected to reach out to certain customers and offer them various premium experiences that they may be interested in trying.
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