TikTok has become a very strong force in online video and become a place for youth culture to thrive.
TikTok has a great feature that allows anyone creating a TikTok to use any music they have licensed in their catalogue. This has driven great success for specific artists and it has now become a marketing strategy of the major labels to get their music used by song of the world’s largest TikTok creators.
TikTok isn’t the future of music, but it is for sure a driving force in the music industry.
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.
