Quibi Confirms It’s Shutting Down

News for tech, products, and trends related to video production and video streaming
Forum rules
Do NOT post links, pictures, or videos to any pirated content. Do NOT advertise sites that host or stream pirated content. Piracy is NOT welcome here.
User avatar
ARK DVD
Site Admin
Posts: 3478
Joined: 2020, Sep 14, Mon, 9:56 am
Contact:

Quibi Confirms It’s Shutting Down

Unread post by ARK DVD »

The company, led by founder Jeffrey Katzenberg and CEO Meg Whitman, confirmed that it intends “to wind down its business operations and initiate a process to sell its assets.” The shutdown comes just a little over six months after Quibi launched in April, at the front end of the COVID pandemic’s sweep across the U.S.

The company, led by founder Jeffrey Katzenberg and CEO Meg Whitman, confirmed that it intends “to wind down its business operations and initiate a process to sell its assets.” The shutdown comes just a little over six months after Quibi launched in April, at the front end of the COVID pandemic’s sweep across the U.S.

Katzenberg founded Quibi on the untested theory that smartphone-toting millennials would eagerly pay for a premium mobile TV service that they could consume in sub-10-minute episodes.

Katzenberg and Whitman attributed Quibi’s failure to gain traction to one of two reasons (or, they said, both): “because the idea itself wasn’t strong enough to justify a standalone streaming service or because of our timing.” The execs added, “The circumstances of launching during a pandemic is something we could have never imagined but other businesses have faced these unprecedented challenges and have found their way through it. We were not able to do so.”
:lol:

https://variety.com/2020/digital/news/q ... 234812643/
AHE network of sites

Social Media: https://www.arkdvd.com/una
Blog: https://www.arkdvd.com/wp
Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest