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What Can Marketers Learn From Quibi's Failure?

Entrepeneur 26 Jun 2020 02:00
What Can Marketers Learn From Quibi's Failure?
Image credit: Daniel Boczarski | Stringer | Getty Images

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By any metric, Quibi is a failure.

The mobile-video platform hit #1,477 in the IOS app store’s rankings in early June. Advertisers are renegotiating due to low viewership. Even founder Jeffrey Katzenberg expressed disappointment. Two months after launch, he stated that, “It’s not up to what we wanted. It’s not close to what we wanted.”

How did this happen? 

At first glance, Quibi’s success seems guaranteed.

They had the leadership. Jeffrey Katzenberg and Meg Whitman are at the helm. They’re two of the biggest names in tech and entertainment. Katzenberg co-founded Dreamworks. Whitman was the CEO of Hewlett-Packard and eBay. A short-form mobile-video platform should be up their alley.

They had the money. The duo raised a $1.8 billion war chest. A who’s who of Hollywood and tech invested, including Disney, NBCUniversal, Sony, Viacom, WarnerMedia, Lionsgate, MGM, Alibaba Group, Goldman Sachs and JP Morgan.

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QuibiQuibiIOS app storeJeffreyKatzenbergDisney
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