Quibi closes its doors just six months after its launch

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Surprise: Quibi is dead.Quibi, a short-lived, mobile-focused video streaming service that was struggling to find an audience amid a global pandemic where many people work from home, is shutting down, according to The Wall Street Journal.

Given that the platform was only available for six months, this makes it one of the shortest streaming services of all time.

Several factors likely played into Quibi’s untimely demise, including the fact that a mobile-focused streaming service doesn’t make sense when people are at home, none of its content was. really compelling enough to attract returning followers, and the fact that you can watch it short. train video content for free on platforms like YouTube and TikTok.

It’s unclear what will happen to Quibi’s line of celebrity-filled content. L’information Initially reported, co-founder Jeffrey Katzenberg, who is also the former chairman of Walt Disney Studios, attempted to sell Quibi’s content to Facebook and NBCUniversal, but ultimately failed.

Quibi launched in Canada on April 6 for $ 6.99 per month for a subscription level that contains ads and $ 9.99 per month to remove ads. The platform forged a partnership with Bell that included exclusive sports and news content from CTV News and TSN. Bell’s initiatives at Quibi will likely be canceled entirely. MobileSyrup contacted Bell for more information.

It’s also worth noting that the report on the Quibi shutdown comes just two days after Bell Media President Randy Lennox announced his departure from the company. Lennox would have been the driving force behind Bell’s investment in Quibi.

Quibi allowed viewers to watch content in landscape and portrait mode. Although the platform initially got off to a good start, it struggled to keep subscribers after its free trial ended. Some reports indicate that Quibi lost 92% of its first users after the free trial of the platform ended.

The service eventually launched apps for Apple TV, Android TV, and Apple TV, going beyond its mobile-focused Android and iOS apps.

Notable content included Let’s ride starring Tony Greenhand, a show about a man rolling ornate marijuana spliffs for celebrities, Bad ideas with Adam Devine, 50 states of dread, Chrissy’s Court with Chrissy Teigen and several others.

For a full list of Quibi content, follow this link.

It is still unclear when Quibi will remain operational until or what will happen to users who have paid for a subscription. MobileSyrup asked Quibi for more information.

Update 10/21/2020 at 6:43 p.m.: Quibi confirmed its closure in a press release. He says that “following the liquidation of the company and the satisfaction of all liabilities, the remaining funds will be returned to its investors as specified in the operating agreement of the company. ”

“We have assembled a world-class creative and engineering team who have created an original platform powered by revolutionary technology and IP, allowing consumers to view premium content in a whole new way. The world has changed dramatically since the launch of Quibi and our standalone business model is no longer viable. I am deeply grateful to our employees, investors, talent, studio partners and advertisers for their partnership in bringing Quibi to millions of mobile devices, ”Katzenberg said in the press release.

Quibi says it works with “legal and financial advisors” to “identify one or more suitable buyers for its assets.”

As for subscribers, Quibi says it is sending out notifications regarding the deadline by which they will be able to access the platform.

In addition, Bell says it is “in contact with the management of Quibi and discussing the next steps”.

Source: Le Wall Street Journal

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