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Quibi Is Looking to Sell Itself, the Least Surprising News of the Day

Peter Kafka, writing for Recode:

Quibi was supposed to be revolutionary: A video service that was supposed to fill the gap between YouTube and HBO by bringing short, “premium” clips starring celebrities like Liam Hemsworth and Chrissy Teigen to your phone, for a price.

But that was in the spring. Now, Quibi might be headed to a fire sale: Just six months after launching — and after raising $1.8 billion — Quibi has started looking for a buyer. It’s a stunning admission that the high-profile service hasn’t found enough traction to continue on its own.

Quibi was a bad idea poorly executed. Launching phone-only was idiotic. “It’s sort of like Netflix or HBO, but you can only watch it on your phone.” What the hell kind of pitch was that? The Quibi concept sounds less like a real pitch and more like a hidden camera prank for dumbass would-be investors.

Quibi could fix the stupidity of its phone-only launch premise, and I think they already have. But the execution problem is that the same clueless taste that led them to launch with a phone-only app spearheaded all of their content decisions. Quibi’s shows and movies stink. All of them. Has anyone told you “Hey you gotta watch this show on Quibi”? No — because there’s nothing good on Quibi.

Bad shows on a poorly-conceived platform with a stupid name. $2 billion right down the toilet.

Monday, 21 September 2020