Six months ago Quibi launched with a lot of hype and big name celebrities like Liam Hemsworth, Reese Witherspoon, Chance the Rapper, Jennifer Lopez, Chrissy Teigen and more all on board with the new streaming service. Fast forward to today, Quibi which offered shows in less than 10 minute episodes is officially shutting down.

CEO Jeffrey Katzenberg raised $1 billion, promising investors that its April debut  would change how the world watched TV! Wrote an open letter where he explained the two things killed Quibi; the pandemic and an idea that couldn’t support a stand-alone streaming service.

So the big question is, could we see Quibi come back a few years down the road? I would say no, but what we could see is another streaming service or platform like Netflix, YouTube, Apple TV, Amazon Prime Video etc. offering more or new shows in less than 10 minute episodes. Time is our biggest commodity, and people are getting busier and busier everyday and want great content that they can consume quickly. 

 

Source: HOLLYWOODREPORTER

Filed under: 2020, Jeffrey Katzenberg, Quibi