Quibi has spent more than $1 billion so far gearing up for what founder Jeffrey Katzenberg touts as a category-defining pay-TV service of the future, uniquely built for smartphones. It’s not clear …
touts as a category-defining pay-TV service of the future, uniquely built for smartphones. It’s not clear when, or even whether, the startup will recoup that.’s still-planned April 6 debut, industry insiders privately expressed skepticism about the untested business model, typically followed by a caveat: But you can’t bet against Katzenberg. That was before the coronavirus pandemic threw millions of Americans out of work and left most of the country cooped up at home.
Katzenberg may be bullish about his baby. But skeptics see Quibi as trying to compete on two different fronts and coming up short on both. “Young people don’t define ‘quality’ in terms of high production values,” says Mike Bloxham, senior VP of global media and entertainment at Magid. For the smartphone-first crowd Quibi is targeting, “quality is defined as ‘what moves me,’ not how much you spent on making the content.”
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