Some tidbits in here:https://t.co/fqwbt2JYOB— Ben Mullin (@BenMullin) June 14, 2020
-An early proposed name for Quibi was "Omakase"
-Quibi is on pace to miss its subscriber targets by a wide margin
-Quibi is expecting it will have to raise at least $200 million by the back half of 2021
- The Wall Street Journal reported that the streaming app is in dire straits only months after its launch.
- Quibi is expected to have less than 2 million paying subscribers by April 2021. The company initially projected that it will reach 7.4 million by then.
- This is especially worrying since the app launched with a 90-day free trial period... and no one has paid for Quibi yet. Subscribers will need to start paying in July.
- The app has been downloaded 4 million times so far, and only 30% are active users.
- The most popular show on Quibi is the "Reno 911!" revival.
- Quibi initially raised $1.75 billion for its launch and has already burned through most of it; it's expected that they'll need to raise an additional $200 million before the end of June 2021.
- Jeffrey Katzenberg initially wanted to call the app "Omakase" but he changed his mind because Meg Whitman opposed him
ONTD, where would you have liked to spend that cool $1.75 billion instead?