Quibi, the mobile-exclusive mobile streaming service, is now shutting down. Quibi was advertised and gained capital from some of the biggest brands in the world. It focused on 5-10 Epsoides Daily, creating mobile experiences when in portrait and land space mode.
Reportedly, Quibi Wasted over $1.9 Billion dollars of Capital in 6 months. Now, If we're looking at this in one way, Many will think it' scaues of covid. Yet, Quibi was never bound to go big. Before Launch, Questions were raised about Quibi's Business Model and Idea, yet they seemed to go past that.
Imagine though, wasting that much capital. They raised a lot of funds, a Quick Crunchbase Search shows me, Companies such as Sony, Alibaba, and Warner invested a lot into this company. Qubi had 2 funding rounds.
What about the content? Well, Quibi is plamnning to sell it's content to other giant streamin gpaltforns such as Netflix. I'm surprised, although I think this could be a good steal for compines such as prime video, and Netflix. Since, The content ideas that the quubi team had were really good shows. I enjoyed watching the ads, and always wanted to try chibi.
The business idea was if you ask me, alright. I saw a good future in this product, yet it wasn't perfect, in the way of building an audience, after most people's 90 days were over, much didn’t return. So, We look at this we can clearly see that Building an empire over mobile-only in a field that spoliated is a big no-no. Hopefully, the Executives learned something and employees who will go on to make something new!
So, What do you think? will we ever see something like this again in eh future or is the end for mobile streaming services or mobile market apps? I would love ot see more product like this as I think it's nice to have something new every once in a while. Toodles, and See you later!
Toodles!