The mobile-first streaming service has announced it is shutting down, just a few months after its April launch.

Goodbye, Quibi. After months of bad news, the mobile-first streaming service has decided to close up shop. 

Quibi Shutdown

Gizmodo reports that Quibi had tried to sell to other content companies. On the other hand, The Information says Quibi also thought about closing. Today, it seems the company chose the latter. 

What Happened to Quibi?

The Wall Street Journal adds that Jeffrey Katzenberg had already told investors he was closing Quibi down this year. Notably, Quibi had launched last April. Katzenberg founded the company.

Katzenberg had blamed COVID-19 for Quibi’s failure. However, the service also failed to compete with rivals such as Peacock and HBO Max. Quibi lacked the firepower to survive in the streaming market.

Over the last few weeks, Quibi still sent out promo emails about its featured content. Gizmodo notes that Quibi’s failure is one of the “most spectacular tech failures in recent memory.” 

In Quibi’s Own Words

Katzenberg and Meg Whitman confirmed the shutdown in an open letter. They said they are “winding down the business,” and they plan to sell Quibi’s assets and content library.

Moreover, they admitted that Quibi did not deserve a full streaming service. Launching Quibi during a pandemic was also terrible.

The post Quibi Throws in the Towel first appeared on Tekrati and is written by Sam Arnold

New reports indicate that Quibi is selling off its content library to companies like Facebook and NBC, ahead of a potential shutdown.

Quibi might be on the way out. The mobile-first streaming service has failed to attract subscribers this year, despite the new features. With Quibi, you can watch bite-sized videos on your phone. The app also uses the Turnstyle technology for changing from portrait to landscape modes. However, new reports indicate a possible shutdown. 

Quibi Closes

Engadget reports that Quibi’s founder and chairman, Jeffrey Katzenberg, has started telling people that he plans to shut down the company. Moreover, Katzenberg is already trying to sell Quibi’s content library to other companies. 

Quibi chairman reportedly looked into selling its content library https://t.co/w9j0hQ0QKD

— Engadget (@engadget) October 21, 2020

The Information adds that Quibi wants to sell to NBCUniversal and Facebook. Earlier, Quibi execs blamed COVID-19 for its failure. Now, the experiment seems ready to end. Katzenberg also founded Dreamworks Pictures. 

Why Did Quibi Fail?

A review from Engadget comments that “nobody asked for Quibi” in the first place. The reviewer also questioned why users should pay $5 a month to watch ad-filled content, which they can only watch on their phones. 

Since then, Quibi has allowed TV support. It also released more original content. The company expanded to Apple’s AirPlay and Google’s Chromecast. Today, Quibi also released apps for Android TV, Amazon’s Fire TV, and Apple TV. However, Quibi may be too little, too late. 

What’s Next for Quibi?

Since Quibi is selling off its library, the app may not stick around for long. The Information says that the company still has $850 million left from its $2 billion investment. With its shutdown, Quibi execs may want to start repaying its investors.

The post Quibi Wants to Sell Off Its Content Library Before Closing Shop first appeared on Tekrati and is written by Sam Arnold

Quibi has launched a free version in New Zealand and Australia. At the same time, it’s also reducing subscription prices from AUD 13 to AUD 7 for users in those two countries. Those prices are roughly USD 9 and USD 5, respectively. New streaming app Quibi continues struggling to keep itself afloat. Hoping to attract more users,

Free Quibi in New Zealand and Australia

Engadget reports that Quibi had emailed the announcements to subscribers in New Zealand and Australia. Interested users can pick which option they want, and then convince their family and friends to join Quibi.

Before this move, Quibi had tried to attract more users by uploading its content to YouTube. While the app brands itself as a mobile streaming service, Quibi has also allowed users to cast its shows on their TVs.

Quibi is offering a free subscription tier in Australia and New Zealand https://t.co/ytdYgUmnw7 pic.twitter.com/P7pTKvLZzM

— Engadget (@engadget) August 5, 2020

Quibi’s Slow Start

Despite receiving $1.8 billion from investors, Quibi has not reached the heights its founders were expecting. A couple of Quibi shows did earn Emmy nods, but the app still cannot hold a candle to other streaming apps, like Disney+. At least Disney+ has hit shows like The Mandalorian. 

Even without a show like The Mandalorian, Quibi is more expensive than Disney+, at a rate of $8 a month. Apple TV+ has the same subscription price, but it can boast hit shows like The Morning Show. 

Quibi vs. Everybody

COVID-19 has also funneled potential Quibi subscribers toward traditional streamers like Netflix. With content tailored for on-the-go mobile viewing, Quibi failed to entice viewers who want to sit on the couch and binge TV episodes. 

The bright side for Quibi is that it has enough cash left to make drastic moves like giving the app away for free or selling it at garage sale prices.

The post Quibi Launches Free Version in New Zealand And Australia first appeared on Tekrati and is written by Sam Arnold