Business
The $2.5b A-list flop: Quibi shutting down just months after launch – Sydney Morning Herald
It was launched with high-profile backers and some big names on screen, but the short-video app is shutting down.
But the service struggled to reach viewers, despite a 90-day free trial, as short videos abound on the internet and the coronavirus pandemic kept many people at home. Part of the appeal of the service, which started at $US5 a month, was supposed to be that you could watch short videos while out, without access to a TV. Being stuck at home made TV more desirable than watching on a phone, and Quibi only later and slowly rolled out TV options. Katzenberg blamed the pandemic for Quibi’s woes.
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