CoStar Shutting Down VHT Studios (a Division of Matterport)21051
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
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  Screen Grab from VHT Studios website. Link to this VHT Studios Announcement. CoStar to shut down VHT Studios, Matterport’s real estate photography division Hi All, CoStar is shutting down VHT Studios (a division of Matterport), announced CoStar Founder and President Andy Florence during the CoStar Group, Inc. (NASDAQ: CSGP) Q2 2025 Earnings Call on Tuesday, 23 July 2025. The announcement came just nine and a half minutes into the call, when Florance stated, “Yesterday, we began winding down operations of Matterport’s photography business, VHT.” He continued, “Matterport acquired VHT in [July 2022]. But [it] has not realized its strategic potential. So we’re going to close that down.” This signals a strategic course correction for CoStar Group following its $1.6 billion acquisition of Matterport, which was completed in early 2025. VHT Studios—a long-standing real estate photography provider—was acquired by Matterport in 2022 to help scale its capture services nationwide. Now, under CoStar’s ownership, the division is being phased out as part of what Florance described as "streamlining" Matterport's offerings. According to a notice on the VHT Studios website, the company will: ✓ Cease all operations effective August 31, 2025 ✓ Stop accepting new media orders after August 5 ✓ Complete all final shoots by August 15 ✓ Shut down customer access to their platform by August 31 ✓ Keep Matterport 3D tours hosted by VHT publicly viewable through December 31, 2025 CoStar did not disclose how many employees will be affected or whether any photography-related services will be transitioned to other Matterport or CoStar brands. What this means for Matterport Service Providers For independent Matterport Service Providers—many of whom compete or collaborate with VHT—this marks a significant shift. If you’re a real estate photographer who has been working with, or competing against, VHT Studios, now is the time to: ✓ Download or archive your assets ✓ Update any active MLS or client-facing links ✓ Notify clients about the sunset timeline ✓ Reach out to Matterport or CoStar support for continuity planning ================= Audio [Look for Play Call button] Transcript ================== Quotes Yesterday [Monday, 21 July 2025], we began winding down operations of Matterport's photography business VHT [Studios]. Matterport acquired VHT [Studios] in June of 2022, but has not realized its strategic potential. VHT primarily operates as a loss-making real estate photography service, largely focused in the Chicago market. Approximately 75% of VHT's photography services do not include a Matterport tour, and none of their contractors are using the high-quality Pro3 camera. VHT generated roughly $14 million in annual revenue, but incurred losses exceeding $10 million. It's a nonstrategic asset, so we're going to reallocate resources to more productive areas. Source: Seeking Alpha Transcript -- Your thoughts? Best, Dan |
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 WGAN FanClub Member Suisun City, California |
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| "none of their contractors are using the high-quality Pro3 camera". since i've been following Matterport (and using them) there's 2 segments i've identified. those that use the Pro cameras and those that use everything else. I've never offered the other cameras when scanning... i'm all in on the pros. I was surprised they were acquired in the first place.. If CoStar is watching i'll sell my business. DM me  tom |
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 WGANStandard Member Osaka, Japan |
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| You buy their equipment @ScanYourSpace . You’re more valuable to them independent! I was surprised to see that VHT is only grudgingly using Matterport. It seems like they may have been bought over but didn’t change the way they’re doing things. I have no idea. Maybe some one in Chicago can fill us in? |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Video: Real Estate Photographers Are About to Get Busy - Here's Why | Video courtesy of Nathan Cool Photo YouTube Channel | 24 July 2025 | ||
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