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The short-form streaming platform was aimed at commuters, just as commuting was disappearing from most of our lives
The short-form streaming platform Quibi, which offered quick shows designed for watching on phones, on the go, has crashed and burned just six months after its launch. Its founder, Jeffrey Katzenberg, and CEO, Meg Whitman, released an open letter to employees and investors – and it had a huge amount of investment, to the tune of $1.75bn (£1.34bn) – explaining that the idea had not worked, offering “a profound apology for disappointing you and, ultimately, for letting you down”.
Quibi – it stood for “quick bites” – had faced an uphill battle from its launch in March. It produced an awful lot of shows, each five to 10 minutes, with an awful lot of serious, big-name, A-list talent either behind or at the front of it, such as Jennifer Lopez, Idris Elba, Steven Spielberg, Will Smith and Chrissy Teigen. Continue reading...