Z Holdings Corporation (ZHD) and its subsidiaries Yahoo Japan and GYAO have announced that they will discontinue the free video service GYAO! on March 31, 2023.
The move is part of ZHD Group’s efforts to centralize its management resources at LINE VOOM, a video platform operated by LINE Corporation, whose operations will be partially outsourced to Z Entertainment Corporation.
ZHD Group is working to create synergies between Yahoo Japan and LINE Group, and this move is seen as a step toward that goal.
By consolidating the resources of GYAO! at LINE VOOM, ZHD Group hopes to be able to respond to changes in the market and offer new forms of entertainment.
In addition, ZHD Group will deepen its cooperation with TV stations to strengthen its competitiveness in the video sector.
The move has nothing to do with cryptocurrencies or blockchain but focuses on the video streaming industry.
The company plans to transfer the resources of the GYAO service to its existing LINE VOOM service to improve the user experience and respond to market changes.