Quibi Calls It Quits After Simply Six Months of Operation

Quibi Calls It Quits After Simply Six Months of Operation


In a bizarre, however not surprising flip of occasions, the mobile-first streaming service Quibi has come to an finish. According to the Wall Street Journal, Quibi founder Jeffrey Katzenberg known as traders on Wednesday to allow them to know that the service is shutting down. For its half, Quibi hasn’t formally commented on an impending shutdown.

The information got here after the corporate launched its Android TV app, the corporate’s first try at bringing their service to a display screen larger than your smartphone. Sadly, it seems like these efforts have been largely wasted.

In case you weren’t within the loop, Quibi (brief for “Fast Bites”) was a streaming service centered closely on viewing the content material on cellular, by optimizing their authentic exhibits to be considered in each portrait and panorama orientations. The service launched back in April with a good degree of success with episodes of exhibits starting from 5 to 10 minutes in size.

The service launched at a worth of $4.99 a month with advertisements and $7.99 to go ad-free. The corporate poured greater than $1 billion into its authentic content material efforts. The service was believed to have someplace within the ballpark of 400,000 to 5000,000 subscribers after being obtainable for simply over six months.

It’s unclear what’s going to occur with Quibi’s present lineup of exhibits, whether or not they’ll be bought off to different firms or if the exhibits might be gone for good. At one time limit, Katzenberg was reaching out to a number of tech executives in an try and see if he may unload Quibi. Sadly, no one was actually , which seemingly result in the demise of the streaming service.

It’ll be attention-grabbing to see how T-Cell reacts to the information, as the corporate began offering one free year of Quibi earlier this yr with their post-paid service. No less than you continue to get Netflix. In any case, whereas Quibi could also be out, there’s no scarcity of different streaming providers wanting your Quibi {dollars}.

By way of The Wall Street Journal

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