Vevo, the video-hosting service, was founded in 2009, aiming to compete with the monolithic video-streaming site, Youtube. On Thursday, Vevo has announced that it’ll be closing down its website and mobile apps, essentially conceding defeat to Youtube. In a blog post, the company notes,

Going forward, Vevo will remain focused on engaging the biggest audiences and pursuing growth opportunities.  Our catalog of premium music videos and original content will continue to reach a growing audience on YouTube and we are exploring ways to work with additional platforms to further expand access to Vevo’s content.

Despite closing down its streaming platforms, this announcement doesn’t mean that the company is calling it quits completely. Started as a joint venture between three major record labels, Vevo’s overarching goal was always to “grow the commercial and promotional value of music videos”—in fact, Vevo gained its name as an abbreviation for “video evolution,” notes Rolling Stone. Given this, the company has plans to continue advertising and sponsoring video premieres, albeit while transferring their content to their Google-owned streaming-service competitor and receiving a smaller slice of ad revenue.

YouTube and Vevo’s long-embroiled battle has been ongoing, with Vevo resisting the major-streaming platform by running its own apps and website for years, and with limited success. In response, YouTube has fired back at Vevo. As explained by Rolling Stone, YouTube “recently took Vevo’s branding off its music videos, while also securing permission under a new licensing deal to sell Vevo’s clips directly to advertisers, cutting out the smaller company’s sales force.” With Vevo closing down its streaming operation, the company received a distribution deal from YouTube, which gave it a cut of revenue for transferring its content over to YouTube.

This announcement comes on the heels of YouTube’s expansion, with YouTube unveiling YouTube Music this week—a music-streaming service with a free and premium-subscription service—as well as a rebranding of their premium video service, YouTube Red, which going forward will be known as YouTube Premium. (Subscribers to YouTube Premium will automatically get a subscription to YouTube Music.)

[H/T Rolling Stone]