Struggling to incur adequate revenue, NBC’s newswire service Breaking News is getting shut by the end of this year. Despite its wide popularity on social media, Breaking News has been unable to generate money and therefore the broadcasting company has decided to discard it.
The news was first made public by Cory Bergman, Breaking News’ co-founder and GM, appropriately enough on Twitter.
Breaking News has been functioning for the past 5 years and consists of a website, mobile application and Twitter handle that provide news from different internet sources. The news app has proved very vital for journalists and news seekers and this is very much evident from the fact that it has 9.4 Million followers on Twitter.
“We have therefore made the hard decision to close its operations so that we can re-invest that funding into NBC News’ core digital products to help us achieve our ambitious goals for those businesses,” said Nick Ascheim, the senior vice president of digital for NBC News.
The news wire service will stop working from December 31, but the entire staff will be on the payroll until January 20. Also, efforts are being taken to provide new jobs for all the employees of Breaking News.
Breaking News, in spite of trying different revenue models has now joined several other platforms who collapsed due to their failure to find appropriate business models to grow.
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