It’s hard to imagine now, in a world of instant streaming and on-demand video, but there was a time when the internet simply couldn’t handle live video. And one of the events that truly tested its limits, and arguably pushed it to its breaking point, was the Victoria’s Secret Fashion Show in 1999.
Back then, Broadcast.com, a company co-founded by Mark Cuban, was trying to revolutionize media. Their idea? To bring audio and eventually video to the internet, which was still a relatively new and often unreliable space for consumers. Think dial-up modems, slow download speeds, and a general lack of infrastructure for rich media. Yet, Cuban and his partner Todd Wagner were ambitious. They started with streaming college sports radio, then expanded to other audio content, and finally set their sights on something much bigger: television, specifically, the Victoria’s Secret Fashion Show.
This was long before YouTube, Netflix, or TikTok. The concept of watching high-quality video online was still a dream. Bandwidth was limited, and video compression technology was in its infancy. Streaming video seemed like a futuristic fantasy. But Broadcast.com was determined to make it a reality, and the Victoria’s Secret Fashion Show was their chosen launchpad.
The hype was massive. A Super Bowl commercial teased the online broadcast, promising millions the chance to watch Victoria’s Secret Angels grace their screens. People were eager to watch the Victoria Secret fashion show online, a novel concept at the time. I was there, not backstage with the models, but in Broadcast.com’s Dallas data center, witnessing the digital chaos unfold. As millions attempted to tune in to watch the Victoria Secret fashion show online, the servers buckled under the pressure. Video streams sputtered, froze, and crashed. Many viewers couldn’t even connect at all.
Scan of original article from 1999 discussing Broadcast.com's attempt to stream the Victoria's Secret Fashion Show, highlighting the early days of online video streaming and the challenges of watching the Victoria Secret fashion show online.
Despite the technical disaster for Broadcast.com, the Victoria’s Secret Fashion Show stream was a public relations triumph for the lingerie brand. It planted the idea in the collective consciousness that watching events online was possible, even if the technology wasn’t quite ready. It was a glimpse into the future, a future where we could watch anything, anywhere, instantly. At the time, I even wondered if Broadcast.com could become “a kind of interactive, global cable firm,” much like Netflix is today.
Looking back, the Victoria’s Secret Fashion Show streaming attempt was a classic example of being ahead of the “adjacent possible.” The concept of streaming video was innovative and exciting, but the technology and infrastructure simply weren’t mature enough for mass consumption. Broadcast.com was pushing boundaries, but perhaps too far, too fast.
Yet, fate intervened in the form of the dot-com boom. Yahoo, fearing they would miss out on the burgeoning trend of online video, acquired Broadcast.com for a staggering $5.7 billion in stock in late 1999. It seemed like a validation of Cuban and Wagner’s vision, even if the technology behind watching the Victoria Secret fashion show online was still in its nascent stages.
However, the dot-com bubble burst soon after. Yahoo’s stock plummeted, and the dream of Broadcast.com quickly faded. The acquisition is now considered one of the biggest tech blunders in history. But Mark Cuban, ever the savvy businessman, had hedged his Yahoo shares and walked away incredibly wealthy. He famously bought a Gulfstream jet before the year was out and went on to become the personality we know today, owner of sports teams and a fixture on Shark Tank. Todd Wagner also profited handsomely and has dedicated much of his time to philanthropy.
The story of Broadcast.com and the Victoria’s Secret Fashion Show serves as a reminder of the early, often chaotic, days of the internet. It was a time of immense potential and equally immense challenges. While the technology to reliably Watch Victoria Secret Fashion Show online wasn’t quite there in 1999, the ambition and the vision were undeniable, paving the way for the streaming revolution we enjoy today. And if you happen to build a company just a bit too early, and someone offers you billions based on future potential, well, maybe it’s not such a bad thing after all. Just remember to hedge.
