Quibi launches today.
Price point: $4.99
Reason: Immersive video content on a mobile device.
Funding: Quibi has raised over $1.8 billion in funding to date.
I think it’s very easy to see that Quibi is being made by a bunch of executives who aren’t or connected to their target audience. Quibi is built for a younger generation who don’t really want to consumer full length films on their mobile devices only. The younger generation are all about short form content and getting information as fast as possible (eg. TikTok).
p.s. their target audience also don’t have enough money for yet another subscription service at $4.99 per month.
Conclusion: Quibi will be a flop!
Im expecting that we are all sitting here in 12 months saying that they just haven’t been able to get the subscriber numbers that they wanted or needed to hit with $1.8 billion in funding.