Microsoft Corporation plans to cut back on Soapbox, the video website that was supposed to be a YouTube competitor.  Microsoft VP Erik Jorgensen said that they are pulling back out as the result of a tough economic environment.  Jorgensen’s division also decided to shut down Microsoft Money.

Microsoft Soapbox launched back in 2006 when Google bought out YouTube.  Soapbox had never really took off to be a real threat to YouTube.  Back in 2007, Microsoft stopped allowing access to Soapbox.  Microsoft plans to turn Soapbox into a forum for bloggers and journalists to post videos on lifestyle, entertainment, and finance.

“We definitely look at it and say we want Soapbox to stand for something and add to our overall video strategy,” stated Jorgensen.  ”We haven’t decided whether you just continue to support it or whether it is too expensive and out of our focus to do.”

[via CNET]

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