“There were lots of discussions with senior management about the possibilities,” said Stubin, talking about the final months at VMS during which the company weighed its business options. Going back a little farther, she said the change in VMS’ president in October 2010, from Peter Wengryn to David Stephenswas not unexpected. The company considered new divisions, mergers and acquisitions, and taking other steps, Stubin added. “We didn’t expect this end result.”
Competitrack had been in competition with VMS, and gives the company a shout out on its homepage (while also lobbying for former clients). According to company owner Bob Moss, they’ve gotten a number of calls from VMS employees looking for new jobs. The company has hired a number of people and is working hard to integrate former VMS clients that have come to Competitrack, which Moss says number about 300.
When asked what he thought brought along VMS’ demise, Moss said technology was a big part of it.
“The Internet changed the structure of the industry,” he said, things like cost and how things are distributed, and the impact of the increase in video and social media. “It’s difficult to respond if you revenue will decrease.”
You can also check out our guest post, “The Evolution of Media Monitoring,” for more on this topic.