According to an interview in the New York Post, Quibi’s failings are all because of the coronavirus pandemic. We disagree.
Founder, Jeffrey Katzenberg said in the interview that Quibi’s launch was disappointing.
His reasoning is that Quibi was made for smartphones, but while people are sheltering at home, they want big-screen entertainment.
Quibi, which currently has an estimated 3.5 million installs is having a big-screen mode built and Katzenberg is clearly putting all his hopes on it.
However, we don’t think that will save this streaming service.
Mr. Katzenberg’s Amazing Resume
Jeffrey Katzenberg was the chairman of Walt Disney Studios back when they made good content like Aladdin (1992), The Lion King (1994), and The Little Mermaid (1989) — don’t knock it, Sebastian’s cool.
Any investor looking at Katzenberg’s resume would be throwing money at him after just Walt Disney. Yet, the man went on to be the co-founder of a little company called Dreamworks.
At Dreamworks, he oversaw the Shrek franchise, Kung Fu Panda franchise, and How to Train Your Dragon franchise.
Mr. Katzenberg is top billing but he’s wrong about Quibi. It’s not a pandemic problem. It’s “who gives a s***” problem.
Quibi’s Disappointing Launch
FACT: Quibi is trying to challenge the content that people binge on social media. They’re putting big-budget productions together to be consumed in little bits.
On the surface, it sounds smart, but having subscribed, and used it for about three-days total, the issue is obvious.
It cannot rival social media for attention.
The reason people binge on social media is because of the eclectic, personal, and infinite nature of its content.
We’re confident in time Mr. Katzenberg will figure it out but it’s unlikely that Quibi will ever make a recovery without doing something bold.