The app was developed by old hands at online video, Chad Hurley and Steve Chen. If those names sound familiar it's because they were the co-founders of YouTube, which they sold to Google in 2005.
Mixbit is a little like Vine (6 seconds) and Viddy (30 seconds) in that each finished clip is limited in time, with Mixbit being 16 seconds long. People are able to combine either their own source material or use clips that are shared publicly.
16 seconds doesn't sound like much but it's been proven in various studies that people's attention span during videos is shortening all the time, and it's rare that most people will watch one in it's entirety, especially if it's over a minute. 16 seconds may be a magic number where the viewer will commit even if there's a possibility that they might not like it, where that's rare if the video is long enough where he has to wait for a payoff.
For a band, Mixbit is cool in that your fans can make short mashups of your videos or pictures and provide a a sample of your songs. It a bite-sized way for people to get a feel for your music.
All of these social video apps have a ways to go before they're in the same league as YouTube or even some YouTube competitors like Vimeo or DailyMotion, but Hurley and Chen have the experience and presumably the money to jump out in front. Let's check back in 6 months and see what happens.
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