What happened to media monitoring and tv clipping service VMS?
As a former manager at VMS, I can tell it you that it was not one single thing, but a combination of many things. We were always very reactive to market changes and failed to innovate when and where it counted. There was a tremendous amount of trouble executing ideas as well. I doubt any more dysfunctional than many other companies, but it certainly didn’t help the situation. A major blow was a platform that cost several million dollars to develop, but was never sold to a single client. At the end, money was being hemorrhaged. We had a main office in Times Square – that rent alone was eating through any profits. This was after several years of many layoffs and cost saving measures, including sending our transcribing business overseas. I watched the company halve in size while I was there. As noted, our prices were high, but I don’t believe we were completely under-servicing clients. What we offered, as far as broadcast, was a solid product – it was everywhere else we struggled. We were
