Quibi Reportedly Considering Shutting Down Only Months After Its Launch

Darnell Taylor
October 22, 2020

After six months of struggling to amass strong subscription numbers since its launch and failing to find a buyer to keep them afloat, Jeffrey Katzenberg's mobile streaming platform Quibi is reportedly shutting down, according to The Wall Street Journal.

The streamer launched in April with a mobile-only model, but the timing couldn't have been worse, with the Covid-19 pandemic causing millions of its millennial audience to become increasingly housebound. The company made its contents more "shareable" last May.

The platform announced the change Monday stating that Quibi's new living room apps were available, and would support Amazon Fire TV, Amazon Fire Stick, Apple TV, and Android TV.

According to the report, Katzenberg and CEO Meg Whitman called an investor on Wednesday to confirm that, after further review and advice from an outside restructuring firm, the service will be shutting down as the board of directors seek to cut their losses.

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Media reports indicated Katzenberg could be wanting to sell Quibi's material to companies like Facebook and NBCUniversal.

Continue reading Quibi Reportedly Considering Shutting Down Only Months After Its Launch at The Playlist.

The reported shutdown is stunning, considering that Quibi hasn't even been around for a year.

To use the services you'll need a Quibi account, set up through the app on your mobile device.

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