RIP: Bud.TV, the Web’s Dumont Television Network

0524budtv.jpg

A subject this writer was talking about just this past weekend with some friends on a drive, wondering when the shoe was going to drop on the disaster that is Budweiser‘s push to become an online television-like network, AdAge is reporting that Bud.TV is going to slowly fade away come very soon. If you haven’t been following this story, and you should have, because it’s really amazing to watch $40 million dollars get flushed away so quickly, here’s your chance to catch up on a pretty substantial blunder. Here’s a bit:

…Bud.TV’s audience is in free fall. A-B executives said before the site’s February launch that they hoped to draw 2 million to 3 million unique monthly visitors to the site — considered the first marketer-created, multichannel online television network — within a year.

But after the site drew 253,000 and 152,000 unique visitors in February and March, respectively, A-B lowered its sights to a new goal of 500,000 unique monthly visitors by next February.

But even that number looked too ambitious after the site’s viewership fell so far in April that it didn’t even register on Comscore Media Metrix’s survey. (A ComScore spokesman said that it was “fair” to assume that the audience had fallen below 100,000 unique visitors for the month.)