Survey: 33 Percent of Respondents Plan to Cancel Their Quibi Subscriptions This Quarter
Quibi sounded like a novel idea pre-pandemic. It attracted A-list stars — Steven Spielberg, Jennifer Lopez, Sam Raimi, Reese Witherspoon — and raised $1.75 billion in funding.
Then COVID-19 hit — upending public health and the economy. The entertainment business was rocked — and founder Jeffrey Katzenberg blamed the coronavirus for mobile streamer Quibi’s problems.
In a recent Kantar survey, 33 percent of respondents said they plan to cancel their subscription this quarter, reports The Wrap.
The streamer debuted April 6 with a 90-day free trail offer. After that, users pay $4.99/month with ads and $7.99/month ad-free.
One reason is Quibi’s marketing twist. It is positioned as “quick bites” of programming, five to 10 minutes long, pitched to millennials waiting in line or in between activities. But in a shelter-at-home world, that’s a lost niche.
Kanter claims: “Quibi subscribers’ biggest gripes are around quality of the shows, ease of use and buffering/speed issues.”