The Brief: Quibi is a mobile-only video streaming app with shows created by and starring big names in Hollywood. It is set to launch in April 2020.
Short for “quick bites,” Quibi is a mobile-only streaming service that will feature content in 4-10 minute clips starting on April 6, 2020. Designed for easily consumable on-the-go viewing, Quibi content can be watched on mobile devices with both landscape and vertical orientations. A subscription to the service is set to cost $5 a month with advertisements or $8 a month for no ads.
Founded by Jeffrey Katzenberg, a former Disney CEO who co-founded Dreamworks and former eBay CEO Meg Whitman, Quibi posits itself of a marriage of technology and entertainment from Silicon Valley and Hollywood. Quibi claims that it is not meant to compete directly with traditional movie and TV streaming services like Netflix and Hulu, but to be a whole new way for consumers to experience audiovisual content, calling itself “the next evolution of entertainment.”
Prominent celebrities including Chrissy Teigen, Jennifer Lopez, Idris Elba, and others have signed on to host, star in, and appear on Quibi original shows. Filmmakers such as Steven Spielberg and Guillermo del Toro will also be producing material for Quibi. The app will feature movies and TV shows broken into short chunks as well as “Daily Essentials:” short bits of news and information customized based on user interests. The platform plans to release 175 new shows in its first year featuring interactive features and effects specifically designed for watching on a small personal device.
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— Quibi (@Quibi) January 8, 2020
In addition to its Hollywood ties, Quibi also has established marketing partnerships with a number of brands and companies. Quibi has reportedly raised over $1 billion in its first round and $400 million in its second round of funding. The company has booked over $150 million in advertising revenue and has 230 employees.
Similar to YouTube and IGTV in format, Quibi has thus far distinguished itself with its development of high-quality content made by established media professionals, rather than relying on user-generated content that makes social media platforms.