ViacomCBS is teaming with soon-to-launch streaming service Quibi to reboot a number of their shows, which may well usher in a new era of streaming content.
In a post on their official website, the media conglomerate confirmed their creative collaboration with the cutting-edge mobile video platform.
For all the difficulties of navigating a corporate merger, Viacom and CBS are playing this particular business move wisely.
ViacomCBS boarding the Quibi bandwagon
The Quibi name stems from their concept of “quick bite” entertainment. Their philosophy is to create episodic stories that run 10 minutes or less.
It’s a genius idea. Nowadays, everyone is on the go, constantly on their smartphones, slammed with information overload. Attention spans are shorter. What better way to appeal to a modern audience than to break ground on this new “snack” streaming format?
Quibi’s Super Bowl LIV ad humorously illustrated their product:
It appears ViacomCBS really trusts their vision. MTV’s Punk’d headlines the rebooted shows that’ll adhere to Quibi’s content standards, and features in the above commercial.
Chance the Rapper will host the new Punk’d. Also joining the fray is Reno 911, Varsity Blues, One Night Forever and a particularly interesting one: 60 in 6 from CBS News.
The latter program is actually the TV classic 60 Minutes. However, it’ll be succinctly downsized to a six-minute running time.
Will other big media companies follow suit?
With a lot of IPs under their umbrella, “demand for content from third parties is incredible,” said ViacomCBS CEO Bob Bakish, per the official site’s post.
Paramount Television Studios president Nicole Clemens, whose Varsity Blues and How To Lose a Guy in 10 Days properties are migrating to Quibi, discussed the partnership further:
“We believe in the demand for premium mobile content. Quibi is a great creative partner and has constructed a financial model that is attractive both in the short- and long-term.”ViacomCBS
Based on these two snippets, it seems inevitable Quibi will seek to work with more companies beyond ViacomCBS.
Although investing in original content has proven successful for other streaming services, it never hurts to lure audiences with reimagined preexisting IPs that appeal to the masses.
Props to ViacomCBS for not letting corporate politics slow their entertainment business strategies. They’re also in the process of consolidating all their content into one, big streaming services.
CBS All Access has been moderately successful, yet between the forthcoming, fresh streaming platform and the affiliation with Quibi, ViacomCBS is positioned to hang tough in the Streaming Wars on the strength of savvy diversification.
It’ll be fascinating to see how this plays out as Quibi prepares for an April 6 launch.