Apple Has No Interest in Purchasing Failing Short-Form Video Streaming Service Quibi

[MacRumors]

Apple is not interested in purchasing short-form streaming video service Quibi, according to a new report from The Information detailing Jeffrey Katzenberg's efforts to sell Quibi.

Katzenberg apparently approached several tech executives, including Apple's software and services chief Eddy Cue, but no one has been interested in buying the Quibi service.

For those unfamiliar with Quibi, it's a short-form streaming video platform that launched in April 2020. It's similar to Netflix or Hulu, but the video content that it features is provided in a shorter 5 to 10 minute format that's designed to be watched on a smartphone in portrait mode.

Quibi spent more than $1 billion on creating original content, leading to more than 175 shows and over 8,000 episodes, but it has failed to gain popularity. In May, Katzenberg said that he believed Quibi's slow start and inability to catch on was due to the pandemic, and said the launch had been "not close to what we wanted."

At the current time, Quibi has around 400,000 to 500,000 paying subscribers (including those who have it free through T-Mobile), according to The Information, well short of the projected 7.4 million subscribers Quibi expected to have in the first year after launching.

Katzenberg also approached WarnerMedia and Facebook, but he has had no luck finding a buyer for Quibi as of yet. Katzenberg has been suggesting a "strategic partnership" to buyers, which would allow him to stay with the company. He believes Quibi has content and connection to top talent, but needs a partner to reach more people.

Unfortunately, Quibi's licensing deals aren't appealing to potential buyers. Quibi's content is exclusive to Quibi for just two years with creators then able to license it to other services, and after seven years, creators get back show ownership. Quibi is also embroiled in a lawsuit with interactive video company Eko, who claims Quibi stole its horizontal/vertical video content technology.

Article Link: Apple Has No Interest in Purchasing Failing Short-Form Video Streaming Service Quibi

 

[moabal]

You need to correct the title to...

No One Has Interest in Purchasing Failing Short-Form Video Streaming Service Quibi

 

[MysteryMii215]

Will Quibi even make it to it's one-year anniversary at this point?

 

[oghowie]

The service itself makes no sense. They'll all just wait until the licensing deals expire and put the show on their own services.

 

[centauratlas]

"due to the pandemic"

Seems more likely due to the business model.

 

[JHBrown]

Why would they. Who thought this would be an idea, Apple, would explore.

 

[jayducharme]

"due to the pandemic"

Seems more likely due to the business model.

Exactly. I would think the pandemic would create a bigger demand for mobile video content, since many people are stuck inside their homes.

 

[itsmilo]

I had the 90 days trial and tried some of their launch shows but then forgot about it like everyone else.

it certainly didn’t help that they blocked screenshots so none of their shows could gain social exposure through Memes or anything. Hell, their shows didn’t even have their own dedicated social pages. What a flop.

also, their approach was strange, it was basically one long episode split into 5 minute clips. Who wants that, in times of binge watching.

you know their shows suck when not even pirates bother to share them

 

[sinsin07]

They must of forgot Youtube is free, with commercials.

 

[Michael Scrip]

File this under "DUH"

 

[xxray]

Quibi annoys me. A huge media blitz for a stupid idea. What is the point of having a service just to serve content in smaller bites? If you're watching a tv show and only have 10 min, you can pause it and just finish the episode later. It sucks if you want to binge. And their advertising blitz for a service no one wants just makes it even more annoying.

 

[69Mustang]

Why would they. Who thought this would be an idea, Apple, would explore.

Why would they indeed. Katzenberg misjudged the viability of Quibi. He also misjudged the value. It's not an idea that anyone would want to explore.

Unrelated: Did you realize your second sentence is written the way William Shatner speaks?

 

[PDavidAlexander]

Quibi was an interesting concept but badly timed. They launched in the middle of a pandemic when a large percentage of people were stuck at home watching content on their big televisions (which is a better experience than watching on a mobile device). Quibi could potentially save itself by creating apps for Apple TV, Roku, etc. and allowing people to binge their short-form shows on their televisions. But, I don't think it's viable as a mobile-only platform.

 

[Realityck]

Given that you can always stop and save time point of content you are watching on most VOD services it not really a useful concept. You always got YouTube if you want to just spontaneously watch something of shorter duration.

 

[sullz]

Quibi was an interesting concept but badly timed. They launched in the middle of a pandemic when a large percentage of people were stuck at home watching content on their big televisions (which is a better experience than watching on a mobile device). Quibi could potentially save itself by creating apps for Apple TV, Roku, etc. and allowing people to binge their short-form shows on their televisions. But, I don't think it's viable as a mobile-only platform.

Quibi is an older generation guessing what the younger generations want. It was a bad idea from inception. No one is going to pay for short form entertainment when youtube and tiktok do it better for free.

 

[Duane Martin]

As an older video content creator the thought of creating portrait mode, vertical video is cringeworthy. I do not want to watch it, I do not want to make it, and what market would it have after Quibi? None. This may not be one of the reasons this service is failing (lots of other good suggestions in this thread) but it is the reason it deserves to fail.

Seriously, if your media project is failing during the pandemic when there is an enormous market for content then you need to look at what you are offering it. Clearly not what people are looking for; I would watch paint dry in horizontal video at this time as I wait for the next season of Ted Lasso.

 

[Natzoo]

I remember the first Quibi ads I saw, made me think it was some food delivery service. Horrible business model and not sure who gave them the $1 billion.

 

[Paul_a]

For those unfamiliar with Quibi,

For some reason that made me laugh.

 

[SDJim]

No Interest in Purchasing Failing Short-Form Video Streaming Service Quibi

Well, when you put it that way...

 

[GadgetBen]

Ouch, what a waste of investment for an alleged copycat!

‘Quibi is also embroiled in a lawsuit with interactive video company Eko, who claims Quibi stole its horizontal/vertical video content technology.

 

[minifridge1138]

The basic premise of “who says an episode of tv has to be 30 minutes (22 with commercials) or 60 minutes (44 with commercials)” is a fine area to work with. Breaking a story into 5 or 10 minute segments isn’t a problem on its own.

But launching yet another paid subscription service right now is questionable. There’s already so much competition and many of the new services will include your old favorites. So you’re asking customers to:
Try watching something new that has no nostalgia value.
Only watch shows on their phone.
Pay to watch it.

That’s a lot to ask even in the best of times.

 

[DNichter]

No surprise, dumb idea.

 

[mattopotamus]

"Buy me so I don't go out out of business" doesn't seem like a good strategy.

 

[Apple_Robert]

Smart move, Apple. It would have been a real waste of time and money.

 

[Braderunner]

Dear friends,
Although I never met Quibi, it made me scratch my head. And ask questions. Like, "why"?
R.I.P., Quibi.