Quibi says it's shutting down after 6 months

[Dead2009]

https://www.axios.com/quibi-shuttin...=social&utm_campaign=organic&utm_content=1100
Did anyone really use Quibi?

 

[bcla]

Not really. Heard about it a few times. Something about the Reno 911! revival, and that was about it. Other than that I had no idea what content they had.

 

[BlueStarryHat]

I hadn't even heard about them until I read that they were folding.

 

[hsmamato2]

The only thing I know about them is their annoying commercials that played on Hulu for months..... I hated them.

 

[FlightlessDuck]

The 10 minute video chunk idea was pretty silly, honestly. And phone only? Bad idea

 

[_19disnA]

Never heard of them until I read an article about shutting down their business. Never watched videos on my phone since the screen is too small & runs down the battery, maybe others like to do that? Reminds me of many other internet based companies who think they will get rich starting a company, selling tons of ads and somehow make money from subscribers. There are only so many ad $$$ to go around and companies aren't going to keep spending if they get no return.

 

[SteveH]

IMHO they wanted to be the next big deal, they raised a billion dollars and still blew it. They tried to be the next, YouTube, TikTok or Zoom and failed, though I'm sure that Jeffrey Katzenberg and Meg Whitman made lots and lots of money. This wasn't about filling a niche they were just trying to make money. At least they bailed out rather than kept bleeding cash and never amounting to much. Good riddance IMHO.

 

[Disneyfan754321]

A few weeks ago I got a 6 month free membership from tmobile Tuesdays.. but I never tried it.

 

[BrianL]

The 10 minute video chunk idea was pretty silly, honestly. And phone only? Bad idea

A lot of younger folks love to watch stuff on their phones, but the limited nature of Quibi, the fact that you could only watch it on your phone and it would only have short form material was very limiting. Disney+ has tons of short form material and you can watch that on the go or in the comfort of your living room. The type of content wasn't necessarily the problem, but the service was just too limited.

 

[VandVsmama]

What the heck is Quibi?

 

[BrianL]

What the heck is Quibi?

It was a streaming service focused on mobile use and short-form shows, no more than 10 minutes. The idea was you could watch something quick while waiting in a line or something. It was definitely targeted at the younger, mobile phone only crowd. I think the name stood for "Quick Bites." As this thread is pointing out, it was not popular nor successful.

 

[SteveH]

... The type of content wasn't necessarily the problem...

I'll disagree. I know I wasn't the target audience, but talking with my kids they scoffed at the idea. They don't watch the content Quibi was producing, they watch the guy on YouTube reviewing whatever, or the thousands of self-produced videos, etc., the Quibi stuff was coming from the existing movie and TV studios (mostly). Those studios are running scared because the next generation doesn't consume their "garbage" (my term). Much like the NFL they've done the market studies they know what's facing them in the future and they are desperate to try to capture the next generation, but that generation really isn't buying into it. Doesn't mean that all studio stuff is dead, but I will say the alphabet stations (CBS/ABC/NBC) are probably the most scared.

 

[BrianL]

I'll disagree. I know I wasn't the target audience, but talking with my kids they scoffed at the idea. They don't watch the content Quibi was producing, they watch the guy on YouTube reviewing whatever, or the thousands of self-produced videos, etc., the Quibi stuff was coming from the existing movie and TV studios (mostly). Those studios are running scared because the next generation doesn't consume their "garbage" (my term). Much like the NFL they've done the market studies they know what's facing them in the future and they are desperate to try to capture the next generation, but that generation really isn't buying into it. Doesn't mean that all studio stuff is dead, but I will say the alphabet stations (CBS/ABC/NBC) are probably the most scared.

I'll rephrase - having ONLY short-form content was indeed a problem, but short-form content itself is not necessarily a problem. There is plenty out there that does get watched. Limiting it in the way they did guaranteed failure.

 

[SteveH]

@BrianL 100% agreed. Sort of old school arrogance and failure to understand their target audience - at least from my armchair view point.

 

[BrianL]

@BrianL 100% agreed. Sort of old school arrogance and failure to understand their target audience - at least from my armchair view point.

Yes - targeting the younger audience is definitely necessary but you can't outright dismiss other demographics either if you want broad success. It's a fine line to walk. For Quibi, they basically alienated both younger and older audiences by not providing the right types of content and limiting viewing options. I'm not really sure what they were thinking.

 

[_19disnA]

Reminds me of some other internet based companies during the 'dot com' boom of early 2000's. The wanted to make a fast buck and watch their stock price skyrocket only to see it come crashing down to reality just as fast. Remember when it was all about the 'new economy' or how many 'eyeballs' were on your website? Trivial things like how much profit the company actually made didn't matter...............until it did.

 

[mrodgers]

Some of you are further ahead than I am. I clicked on the thread just to find out what the heck Quibi was. The thread title is the only time I'd ever heard of it.

 

[VandVsmama]

Reminds me of some other internet based companies during the 'dot com' boom of early 2000's. The wanted to make a fast buck and watch their stock price skyrocket only to see it come crashing down to reality just as fast. Remember when it was all about the 'new economy' or how many 'eyeballs' were on your website? Trivial things like how much profit the company actually made didn't matter...............until it did.

Exactly. I was in a business class once during the dot com boom and the professor said, “Maybe it’s no longer necessary to actually make a profit.” LOL. I thought, “Buddy, you have no idea what an idiot you sound like right now.”

 

[_19disnA]

^^ I agree. I still recall the early 2000's and how some of my co-workers kept bragging about how great their 401K's were doing when heavily invested in those flash-in-the-pan tech companies. I avoided those companies and then watched it all go up in smoke for them like a house of cards.

I see the same thing happening again when bitcoin or ZOOM & Tesla stocks go roaring ahead without the profits to match. I still see Tesla as a niche car company not a technology company trying to ride that wave. Have used ZOOM for a few video chats with friends/relatives............but haven't spent a dime using it. I do know of several school systems and businesses who refuse to use it due to security concerns. Bitcoin as a virtual currency not regulated by any country............gee what could possibly go wrong? LOL. Chasing the 'next big thing' is not my idea of how to invest.

 

[SteveH]

@_19disnA to Zoom's credit they jumped on their security problems early on and have done a very good job addressing them. I figured Zoom would crash and burn, but they have been reinvesting to keep up with the demand and addressing problems. I wish I'd bought stock back in Feb or March. After using about every video conferencing platform I will say that Zoom is by far the most common now, and the easiest for the average users to use too. I'm just shocked that Apple, or one of the other non-Microsoft tech companies didn't buy them right away. But I think that would have been the kiss of death.