In the face of Netflix, this $ 2 billion streaming service will be retired

The mobile streaming platform, launched just 6 months ago, was among its investors The Walt Disney Company, NBC Universal, Sony Pictures, ViacomCBS, WarnerMedia and Alibaba Group.

A little tour and then let’s go

Marketed for $ 1.75 billion, the service was founded by Meg Whitman and Jeffrey Katzenberg, a true Hollywood dinosaur and former directors of Dreamworks Animation. In the middle of the streaming war, the two developers set out to revolutionize SVOD by offering short formats for mobile consumption at any time of the day.

The Quibi service was launched in full security and didn’t turn out to be particularly attractive. It did not have a flagship license and only relied on content created specifically for the platform. However, after 6 months of brief existence, the two leaders announced the end of the service in a press release:

It is with a terribly heavy heart that we announce the end of our operations today as we begin to sell our content and technology. We feel like we’ve tried all the options. As a result, we made the decision to close the deal, return the money to the investors, and say goodbye to our colleagues.

Quibi will unfortunately have suffered from competition for video on demand. With giants like Netflix, Disney + and Prime Video offering the ability to access their content on both laptops and “big” screens, it seemed difficult for the service as the only mobile medium did not exist. was not viable in the long run. However, Quibi’s premature disappearance may be caused by the legal episode in which the platform launched since last March. Eko, the company specializing in interactive video, accuses Quibi of copying its technology that allows smartphone users to transparently switch from landscape to portrait mode to view content.

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