Quibi was meant for the ADHD generation of TIK TOK using Youtube Challengers. But the young streaming service is having a difficult time attracting viewers. Perhaps in this time of quarantine and COVID-19, the last thing friends and families want to do is not be able to share content. Despite being a unique venture, the streaming service is hindered by subscribers only being able to watch programs on their phones.
Another problem with the streaming service could be that it just lacks content to draw people in. Chairman Jeffrey Katzenberg claimed last week that the coronavirus stay-at-home orders are to blame for lack of interest in consuming short clips, intended for enjoying while waiting in line at the grocery store or on the commute to work. But an expert believes that it’s simply because nothing has made millennials want to trade in their cell phone time.
‘Quibi’s content isn’t bad, it’s perfectly fine. It’s just hard to get the attention of a new audience without very compelling content,’ Loup Ventures managing partner Doug Clinton wrote in a blog post on Friday.
Per The Daily Mail:
Since Quibi launched April 6, it has been downloaded 3.2 million times in Apple Google Play app stores, according to Sensor Tower. Quibi executives told The New York Times that the figure is closer to 3.5 million. Sensor Tower also said its iPhone app store ranking dropped from #1 to #114.
They aimed to have 7 million subscribers in the first year. But active users are only about 1.3 million.
Quibi spent $1.8billion on launching and before the coronavirus pandemic estimated it would get $400million in revenue, including $250million from subscriptions in the first year.
They also projected a $550million loss in the first year.
A source recently told the Wall Street Journal that projections have not changed.
Netflix offers a 30-day free trial and Disney+ has offered up to a year free in partnerships with companies such as Verizon.
The Wrap reports that Quibi’s 90-day free trial, which was available until the end of April, helped an initial surge in downloads. In recent weeks, Quibi has been downloaded about 40,000 times per day.
While Katzenberg has claimed lockdowns have made those ‘in-between’ moments vanish, Clinton argues that they haven’t disappeared, ‘they were already spoken for’.
‘People may not be able to watch Netflix during an in-between moment, but they can watch Instagram, YouTube, Twitter, etc,’ he writes.
Clinton said in the blog that Quibi doesn’t allow people to develop an emotional response.
However, Rome itself was not built overnight. Despite failing to set the world on fire initially, the streaming service still has a chance to develop more compelling content and new avenues to present post COVID-19.