What Quibi Must Do to Recover From Slow ‘Start Out of the Gates’

Sean Burch

Quibi, the new mobile-video streaming service that launched Monday to mixed reviews and a lackluster 300,000 downloads in its first 24 hours, will need more compelling content to make good on its massive $1.75 billion investment, several analysts told TheWrap. Given that Disney+ signed up 4 million subscribers on its first day last November, the Quibi debut was “not a great start out of the gates” for founder Jeffrey Katzenberg and CEO Meg Whitman, Wedbush analyst Dan Ives told TheWrap. Ives said Quibi, which will cost between $4.99 and $7.99 per month following its free 90-day trial, will need to distinguish itself from a crowded market of streaming services with hit shows if it wants to pull eyeballs away from bigger — and cheaper — outlets. Quibi debuted with shows starring Jennifer Lopez, Christoph Waltz and Chrissy Teigen, among other stars, but most of its big-name series weren’t available on launch day. “Many consumers, and especially younger demographics, put YouTube above food and water on the priority list, and it’s free,” Ives added. “Competing against this platform is an uphill battle for Quibi.” Reps for Quibi did not immediately respond to a request for comment for this story. Also Read:...

Read original story What Quibi Must Do to Recover From Slow ‘Start Out of the Gates’ At TheWrap