Quibi’s Quick Fall

    • The quick-format media platform wasn’t able to catch on despite raising $1.75 billion.
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Quibi’s founder Jeffrey Katzenberg reportedly told investors yesterday that the streaming service is shutting down. After launching in April, the quick-format media platform — which featured content starring high-powered celebrities like Anna Kendrick and Chrissy Teigen — wasn’t able to catch on despite raising $1.75 billion. 

Failing to garner adequate viewership early in its run, Quibi recently hired a restructuring firm to figure out its path forward. It even reportedly pitched NBCUniversal on a sale.

Prior to its launch, Quibi had more than $150 million in ad revenue, including from companies like Pepsi, Walmart and Anheuser-Busch. The conventional star power, quick format and $4.99 per month fee apparently didn’t click with the modern media consumer.

Quibi’s Sports Shows:

  • LeBron James-produced “I Promise” 
  • Megan Rapinoe-hosted “Prodigy”
  • Sneaker show “You Ain’t Got Those”
  • TSN’s “SportsCentre AM”
  • ESPN’s “The Replay”
  • Dance show “The Sauce”
  • WWE female superstars’ show “Fight Like A Girl”