Looks like a very interesting stock, streaming service that is not in competition with Netflix but trying to capture another audience. Don’t know much about it but below are some details.
Website link - https://www.quibi.com/
LAS VEGAS – Somewhere on the digital-entertainment prism — between premium streaming services and free, quirky content on YouTube — Quibi Inc. hopes to occupy a crevice that until now has gone unclaimed.
It’s the slice in the upper-right-hand quadrant of a market research paper provided by the Hollywood, Calif-based startup that has raised a jaw-dropping $1 billion in venture funding and is headed by two titans of business: Chief Executive Meg Whitman and founder Jeffrey Katzenberg. But they have only a few months to make its case in shark-infested waters that consumers should sign up before it goes live in April.
That is why Whitman and Katzenberg stood on stage Wednesday for a keynote address at CES, “Mobile phones are the most highly democratized platforms for entertainment we’ve ever seen,” Katzenberg said. “As 5G ramps up network speed, consumers will watch even more.”
“This is something new and powerful,” Whitman said. Quibi, she said, is building a platform for creators to take full advantage of content on phones.
Quibi (short for “quick bites”) offers short-form videos of 4 to 10 minutes on everything from long-form movies in the form of chapters to serialized shows and daily news reports. It’s collaborating with a stable of directors (Oscar winners Steven Spielberg, Guillermo del Toro, and Steven Soderbergh), A-list celebrities (Reese Witherspoon and Bill Murray), and studios such as BBC, ESPN, and NBC News. In all, it will showcase 8,500 episodes in its first year. It intends to offer 3 hours of fresh content a day.
We’re not YouTube, Instagram, or Facebook. FB+1.01% We fill a niche they don’t do; we provide content for people on the go,” Whitman told MarketWatch in a one-on-one interview and product demo in San Francisco before she and Katzenberg were to deliver their CES keynote speech. She gave a sneak preview of exclusive, premium content available on the mobile-entertainment platform, which debuts April 6 in the U.S. and Canada.
Quibi is making a big push in a fledgling market amid furious competition between some of the world’s biggest media names for streaming customers. Its hope is it will resonate with a younger audience as an alternative in terms of content approach and delivery.
The service costs $4.99-per-month for two-and-a-half minutes of ads, $7.99 without ads. Quibi’s advertisers include Alphabet Inc.’s GOOGL+0.71% GOOG+0.79% Google, T-Mobile US Inc. TMUS+0.63% , Procter & Gamble Co. PG+0.43% , and General Motors Co. GM-1.42%
Katzenberg has secured close to $1 billion in backing for Quibi, winning backing from major Hollywood players such as Walt Disney Co. DIS-0.21% , 21st Century Fox, Comcast Corp.’s CMCSA+1.02% NBCUniversal , ViacomCBS Inc. VIAC-0.62% , and Sony Corp. SNE+0.37% .
“Can Quibi capture the cultural zeitgeist in such a crowded field? I’m not sure a younger demo is willing to pay much for short-form mobile video,” Andrew Hare, a senior vice president of research at market researcher Magid, told MarketWatch. “I’m not sure their content is in the same universe of a Disney or Netflix. It’s an uphill climb.”
Short video link below -