It only launched 3 months ago, but already Jeffrey Katzenberg’s short-form content platform, Quibi - is struggling to reach its goals….
bad reviews, lack of interest and legal issues have surrounded the platform which was billed as a huge Netflix rival - so how did it crash so fast after $1.75bn dollars was pumped in to “refashion the style of streaming into “snackable” bites” ?
You may well ask…… especially with the likes of a Joe Jonas talk show, a movie with Game of Thrones’s Sophie Turner surviving a plane crash and a documentary on LeBron James’s I Promise school…..
The app fell out of the 50 most downloaded in the the US iPhone app rankings within a week of its launch, and only attracted around 1.5m active users in its first three months of business.
To put that in context, Disney+ has attracted over 50m subscribers since its aunch in december 2019.
Quibi is now expecting just 2m paying customers by the end of their first year - which is a lot less than their initial target of 7.4m subscribers.