Quibi to Pull the Plug on Dec 1

Alonzo Simpson
October 25, 2020

While all of Quibi's content is original for the platform, it is now unclear how numerous shows Quibi actually owns. Expectations of the service's closure rose after The Wall Street Journal reported Wednesday afternoon that Quibi founder Katzenberg was calling investors Wednesday to break the news.

Despite raising over US$1.75 billion ahead of launch, the company was not able to turn the mobile-oriented short-form streamer into a viable business.

Short-video app Quibi is shutting down just six months after its early April launch after struggling to find customers.

"Quibi has made the tough resolution to wind down", stated a self-described "finish of service announcement" at present on the FAQ section of the platform. "When you have any questions or want help in any method, please contact us at assist@quibi.com".

"At this time we do not know if the Quibi content will be available anywhere after our last day of service", it said. Quibi, which produced short-form videos for mobile viewing, encouraged users to follow #Quibi on Twitter for updates. A few people anticipated Quibi would at last fail before the organization even launched.

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Quibi points out that the idea itself was not strong enough to make an independent streaming service successful, or it failed due to timing.

The founder and CEO also added, "The circumstances of launching during a pandemic are something we could have never imagined but other businesses have faced these unprecedented challenges and have found their way through it".

It was additionally introduced that Quibi would develop into the house for content material created by the likes of Hollywood royalty like Steven Spielberg and main forces in TV manufacturing like BBC Studios, the business arm of the BBC.

Some of the most popular shows included the Sophie Turner-starring "Survive" and "Most Dangerous Game" with Liam Hemsworth and Christopher Waltz. "We have put Quibi on notice that it can not simply wind down its business, send its investors hundreds of millions of dollars and sell its stolen technology to a third party without first resolving its issues with Eko".

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