Quibi has become the latest contender in the streaming war and it has a different formula to its approach. What about the new streaming service that has caught everyone’s attention? Why should we pay attention? Is it something that will work?
What is Quibi?
Founded in August 2018 and then launched on April 8 this year, Quibi is the first mobile-only streaming service. The content on the platform doesn’t exceed 10 minutes which are nicknamed “quick bites,” hence the name of the streaming service entirely. It isn’t aimed to be an alternative to Netflix or Hulu, it’s intended to fill the small gaps of one’s day.
Who Started This?
Quibi was founded by Jeffrey Katzenberg, an American film producer, and is led by Margaret Whitman, an American business executive. Katzenberg was a chairman of Walt Disney Studios from 1984 to 1994, during which he produced The Little Mermaid, Beauty and the Beast, Aladdin, and The Lion King. He was also a co-founder and CEO of DreamWorks Animation. Whitman serves on the board of Dropbox and previously served as president and CEO of Hewlett Packard Enterprise.
That Trial Period, Though
The periods of time where streaming services allow you to enjoy their content for free is what we all know as the trial period. Typically, trial periods last at least seven days and no longer than a month (30 days). The trial period for Quibi is 90 days which is three times the amount of time than most streaming services offer. According to WatchMojo’s YouTube video about the streaming service, Quibi is counting on the fact that it will become such an integral part of your day that you won’t be too hesitant to pay for it. After the trial period, subscribers can choose between $4.99 with ads plan or the $7.99 ads-free plan.
The License Model
In the same WatchMojo YouTube video, it’s described as another aspect of Quibi that’s out of the box. After two years, creators are allowed to repackage their content and bring it to other platforms. After seven years, creators are given full ownership over their content.
Controversy?
Before it could officially launch, Quibi was sued by Eko, a media company that specializes in making interactive videos for various companies like Coca-Cola. According to The Next Web, Eko claims that Quibi’s “Turnstyle” technology is based on their patent. The technology in question refers to when the content can be viewed differently according to how the phone is positioned. One of Quibi’s selling points is that its content can seamlessly change from the landscape to portrait orientation. Quibi states that its content is filmed to accommodate for either.
According to The Hollywood Reporter, Katzenberg had met with Eko’s CEO, Yoni Bloch, in March 2017. During this meeting, Bloch had been pitching his platform for investment which Katzenberg declined. A year later, he forms Quibi; in March 2019, two Quibi employees attempt to “get reacquainted” with Eko and hear a pitch for unscripted content.
Something Different
Quibi isn’t aiming to overshadow other streaming services, but it’s making its own lane. As mentioned before, Quibi is attempting to fill the smaller gaps in our daily lives through their short-form content. As other streaming services have longer content, which viewers can’t easily watch on their way to work or school. Quibi provides some sort of convenience where viewers can watch while waiting for the bus or walking to class. The new streaming service doesn’t want to be the one that everyone goes to, but rather the one everyone enjoys alongside the others they may indulge in.