Quibi Sells $100M in Ad Inventory Well Ahead of April 2020 Launch
This should quiet the naysayers: Quibi, the mobile-only short form video network that will debut on April 6, 2020, announced it has already taken in $100 million in upfront ad sales. The platform is selling category exclusives, and has made deals with Google, Procter & Gamble, PepsiCo, Walmart, Progressive, and AB InBev.
Quibi (a shortening of "quick bites") is helmed by founder Jeffry Katzenberg and CEO Meg Whitman, and will sell subscriptions when it launches ($5 per month for ad-supported and $8 per month for ad-free). It's attracted a major list of names already, with partners including Sam Raimi, Steven Soderbergh, Anna Kendrick, and Catherine Hardwick. Last week, the service made headlines by announcing Steven Spielberg is creating a horror series for the platform called After Dark which will only be viewable when it's dark outside. In all, the platform plans to launch with a library of 7,000 titles.
Shows on Quibi will be preceded by a single unskippable ad of either 6, 10, or 15 seconds. Other ad types are in the works, Variety reports.
Investors include Disney, NBCUniversal, Sony Pictures Entertainment, Viacom, WarnerMedia, Lionsgate, MGM, and more, with total investment reaching $1 billion. The first year's content will cost a hair more than that, at $1.1 billion. Quibi hopes to raise an additional $500 million prior to launch.
CEO Meg Whitman and founder and chairman Jeffrey Katzenberg announced that the new mobile service will roll out 175 new original shows and 8,500 episodes at a rate of 3 hours of new content per weekday
When Quibi launches next year, it will be the latest in a line of "mobile-only" streaming services. None of its predecessors have succeeded, but industry experts say Quibi will thrive where offerings like Go90 failed.
The short-form mobile video service will partner with T-Mobile for its April 2020 launch, but what that means is unclear. Can subscribers expect a discount?
Sky and Netflix also announce moves to double down on original spend for pay TV and direct-to-consumer services
Content needs to be built from the ground up for smartphone viewing. Here are five best practices artists should keep in mind when shooting video for mobile devices.
Video is taking up an increasingly large share of mobile traffic. The reason is HD video using more data. So how will operators manage the shift to 4K?
In 2022, 71% of the world's population will have a mobile device and the internet of things will increase mobile traffic greatly.