Quibi founder Jeffrey Katzenberg says the slow start of the mobile streaming service since its April 6 launch has provided “almost a beta” period that gives the well-funded start-up a c…
, Katzenberg maintained Quibi is poised for a rebound in the second half of 2020 as states reopen more fully. Commuting and other time viewers will be spending outside their homes is apt to increase, he said — plus, more people will be waiting on line across the country for things like haircuts and dry cleaning.
Mobile viewing on TikTok, Snapchat and YouTube has been comparatively healthy during COVID-19, but Quibi’s programming is more ambitious, with pedigreed contributors and generally higher production values. After raising $1.7 billion in financing and spending heavily on promotion, Quibi has undershot the expectations of investors, content partners and advertisers.
In July, the country will enter a new phase after the dark days of spring quarantine, Katzenberg noted. While he said elsewhere in the session that entertainment overall would not fully recover until a coronavirus vaccine is released in the first part of 2021 at the earliest, activity will increase in the meantime. “We are all going to be back on the go again,” he said. “The difference is, we are going to be waiting on line for more things than we ever have before.
Because Liberty Global is an investor in Quibi, a fact that Fries disclosed during the session, questions did not cover too much sensitive ground. Unaddressed topics included a legal copyright battle with Eko, relations between CEO Meg Whitman and Katzenberg or the company’s exploration of smart TV apps.
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