The curious case of Quibi
The platform that should have given serious competition to most of the streaming platforms did not last even 6 months
THEY BLAMED IT ON THE PANDEMIC. I disagree, WHY?
In this pandemic, most of the apps, TV channels, Radio, YouTube and all OTT platforms saw an enormous jump in viewership
They were the only ones to secure funding from all the major Hollywood studios; tech giants like Google and China's Alibaba; financial services companies like JPMorgan Chase and Goldman Sachs; European telecom Liberty Global; venture capital Madrone Capital Partners; and the billionaire investor Carlos Slim. Whitman and Katzenberg themselves invested in Quibi too. Quibi's entertainment-industry investors included Disney, NBCUniversal, Sony Pictures Entertainment, ViacomCBS, AT&T's WarnerMedia, Lionsgate, MGM, ITV and Entertainment One.
Quibi has recruited a who's who of stars to work on its programming, including Chrissy Teigen, Lebron James, Dwayne Johnson, Reese Witherspoon, Chance the Rapper, Kevin Hart, Jennifer Lopez, Idris Elba, Zac Efron, Tina Fey, Liam Hemsworth and husband-and-wife combo Joe Jonas and Sophie Turner (but on different shows), along with a bazillion others. It's also lured in big-name filmmakers like Steven Spielberg, Guillermo del Toro, Antoine Fuqua, Catherine Hardwicke and Ridley Scott to make series.
You know what time reminds of?! FYRE festival… Remember that?
Both can be termed as “Naam Bade Darshan Chote”
Both claimed to be the golden egg and turns out to be a failure
Atleast, Quibi dint dupe or pardon my French bullshit them!
So, what went wrong?
According to me
1. They stuck with the traditional celebrities, shutting off the brand of new age influencers. Any app or platforms needs to acknowledge them, work with them
2. Just made for Mobile. High production value content needs to have the same kind of experience. Having the option to stream on laptop and TV is a plus
3. Introducing the subscription model too soon
Public Speaker| Global B2B Conference Organizer of our flagship event | Management Consultant | Corporate Strategy | Solution Provider | Business Process Enthusiast
2 年Vibhu, thanks for sharing!
Owner of advertising, marketing, and PR agency “Friedman PR”
2 年Vibhu, thanks for sharing!
Founder and CEO California ACO
4 年Well done.
Marketing Leader in Tech, Internet and Consumer Electronics ? Brand Strategy & Data Driven Growth ? MarTech & AdTech Specialist ? Blockchain & Web3 Enthusiast ? AI Hustler ? Ex-DishTV, HOOQ, Dentsu, JWT
4 年This sounds like a classic path of too many cooks spoil the broth. But I think it's not. When we are the world was recorded it brought together 40 different artists and the song became an anthem. This could have been an iconic service had they had their content production and strategy in place