The twist: the stories will be developed exclusively for viewing on mobile phones. The content will be distributed through a new mobile app, designed by a tech team that has consulted with Hollywood creators to make an interface that is appealing to filmmakers and elusive younger audiences. To hear Katzenberg tell it, Quibi is playing a pioneering role in crafting a new form of storytelling that combines elements of feature film storytelling and episodic television. Already, there are large subscription platforms like Netflix and Amazon Prime Video, as well as free, mostly ad-supported sites like YouTube and Facebook.
The company brings together two heavyweights in entertainment and tech — year-old Katzenberg and Whitman, who turns 63 on Sunday. In many ways, the pair are opposites. The seed of the Whitman-Katzenberg partnership began with a phone call. Whitman had just announced she was stepping down as chief executive of Hewlett Packard Enterprise in when Katzenberg called and asked what she was doing that night. She guessed correctly that she would be having dinner with him.
Katzenberg handles the content side of the business, while Whitman runs the company, including overseeing the product and engineering teams, as well as marketing and advertising.
Each cites different reasons for why Quibi will succeed. Whitman points to eMarketer research that shows a steady rise in the average amount of time consumers spend daily watching video on their mobile devices: Init was 60 minutes, up from six minutes in Katzenberg touts his instinct and track record of providing what audiences want even before they know it.
In its original plan, Quibi had considered mining and monetizing data, Katzenberg said. When Whitman looked at the plan, she disagreed with that idea. We zeroed out that revenue line.
The start-up is focused on providing videos for mobile phones from 7 a. Those videos are separated into three categories: long-form narratives distributed to consumers in short chapters; alternative content, which includes reality, documentaries and food shows, and so-called Daily Essentials, which include daily news such as morning and evening shows from NBC News that target millennials. Quibi said it plans to make money through subscriptions and ad revenue executives declined to disclose projections.
The ads will appear in 6- and second pre-roll ads before Quibi videos and in other formats. Much of the money Quibi has raised has gone toward buying content and marketing. The company plans to amass more than 7, pieces of content in its first year. Filmmakers working with Quibi said the platform gives them more tools to lure audiences, such as the use of ring tones and the ability to have content appear at certain times of the day.
The drama follows Clare over 12 hours as she seeks safety. Viewers watch a dozen minute episodes that air one hour later each night. Unlike other platforms, Quibi offers a premium price for content and gives creators more flexibility.
Another appealing feature for creators is they get to own the content after seven years, during which Quibi has the exclusive license.You can place orders for certain stocks before their initial public offering using your Robinhood app. You won't have to worry about paying more than you want because your order won't execute above your limit price. We're simply providing you the convenience of entering your orders before the morning of the IPO.
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Meg Whitman, Jeffrey Katzenberg to roll out streaming service Quibi in April 2020
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Quibi is a media company that develops media content designed for smartphones. The company is focused on the core audience, producing inspiring shows for an intuitive, mobile-first platform, and creating a culture where everyone is heard.
Its content is made specifically for mobile devices and can be viewed in either horizontal or vertical video, with the user able to shift to one or the other within the same video. QuibiIntegrate. QuibiVice MediaOutreach. QuibiAnchorFree. EquityZen does not have an affiliation with, formal relationship with, or endorsement from Quibi or any companies feature above. This profile is based on publicly available information and is intended to be informative in nature.
Some data provided by Crunchbase. Request Access. View More Companies. Founded About Quibi Stock Quibi is a media company that develops media content designed for smartphones.
Liberty Global QuibiIntegrate. Chief Executive Officer Meg Whitman. Chief Technology Officer Rob Post. Quibi app review: shifting landscape theverge - Apr, 6 T-Mobile customers on unlimited wireless family plans get a free year of Quibi TechCrunch - Apr, 2 Release the Influencers! Learn More. Black Shopping Channel, Inc.
Hearst Communications. Hearst is large private diversified media, information, and services company with more than businesses. PPL licenses recorded music played in public or broadcast on the radio or TV.Wait, what was Quibi again? Details around the company have been sparse, but we learned more at the Produced By conference on Saturday.
Several things to know:. People have been consuming short-form videos on Facebook, Instagram, YouTube, and Snapchat for a pretty long time.
Verizon debuted its mobile video service Go90 in hopes of capturing a younger demographic that had ditched traditional TV in favor of watching videos on their phones. But Go90 ultimately shut down after the service failed to gain traction with the public. I use Facebook and Instagram regularly. With that said, the duo is well-connected and has surrounded themselves with some of the best in the business — luring away executives from Hulu, Netflix, Snapchat, and Viacom.
Read more at Fortune. TCV led the round. Andreessen Horowitz led the round, and was joined by investors including Trinity Ventures and Core Innovation Capital. Capital acquired Cardinal Logisticsa Concord, N. Thebe Tourism Holdings was the seller.
Read more. Morgan Stanley, Deutsche Bank and Citi are underwriters. Roviant backs the firm. View this email in your browser. Sign in. Sign in to view your mail. Finance Home. Polina Marinova.By Amber Deter. Originally posted April 10, The new streaming platform launched earlier this week. And its content consists of short videos, 10 minutes or less. People often turn to their phones during these moments.
The streaming platform launched Monday, April 6. But the company moved forward. It knew streaming services would be in high demand.
Analysis: Quibi Continues to Excite Investors Despite Experimental Design
And critics have already reviewed some of the first shows. However, there are three main categories. When asked if shows will have multiple seasons, Katzenberg said :. And others have the opportunity to have ongoing, continuing seasons [or]… a sequel. While each video is one episode for shows, movies will be released in chapters. And the next generation was these very long, episodic and serialized stories that had either 13 or 26 chapters to them, and they were designed to be watched an hour or half-hour at a time in front of the TV set.
But the company plans to have shows in the first year for a total of 8, episodes. One big reason is they try to be too many things. That means viewers pay a monthly fee for access to content.
And some T-Mobile users may be qualified for a free year of subscription. Additionally, neither Katzenberg nor Whitman promised Quibi stock. There are many other great startups that might go public. For example, check out Riviana Tesla competitor with great potential. Can Retirement Consultants Help? What Is an IRA? What is an IRA Rollover?