There are some things that a pandemic can’t stop. One of those things is live streaming! Facebook, Instagram, TikTok and the likes are all full of stories these days. After all, amidst the lockdown what else does one do?
This could be a boon for Meg Whiteman who recently launched her live streaming app, Quibi. Having raised a funding of $1 Billion initially from investors that included the Alibaba Group, Hollywood Studios and the likes and another of $750 million, this startup has certainly put the right foot forward at the right time.
For those who are unaware, Meg Whiteman led eBay and Hewlett Packard. She along with Katzenberg, a Hollywood Legend who co-founded DreamWorks came up with the idea of Quibi.
The business model is simple. The revenue comes in from Ads and subscriptions. For a version with ads, the subscription cost is a small $4.99 a month while the one without ads isn’t very expensive either at just $7.99 a month. The best thing is that the ads do not interrupt the shows.
Interesting facts about Quibi:
- Quibi is short for Quick bites
- The idea came about during a three hour meal between Whiteman and Katzenberg.
Quibi is all about high quality ten minute videos, unlike Tik Tok and YouTube where quality isn’t really a parameter. If we look at other streaming services like Netflix, they aren’t really optimised for phones. So we can say in between a Tik Tok and a Netflix, Quibi will find victory.
A part of Quibi’s technology is ‘Turnstyle’ which allows you to switch from a vertical to a horizontal view seamlessly without any pause or break in the video you’re watching.
Adding to all of this, biggies like Steven Spielberg, Jennifer Lopez, Tyra Banks and more have a tie up with the platform. So you can be sure of great content that comes with great quality.
Now what exactly is Quibi all about?
- Streaming service
- Short videos on phones
With all the Coronavirus chaos, many of Quibi’s plans have been put to rest. While there were a lot of arrangements and collaborations with events that have now been cancelled, there were also a lot of ad campaigns that revolved around the outdoors. These Quibi ad campaigns also had to be put on hold.
Now while Quibi may seem like a bold idea amidst the pandemic, it also is a great one considering that people will be binge watching videos for months now onwards. Is it a win win situation for the app? Maybe! Only time will tell how the app really fares. For now, Quibi does look promising and it’s only a matter of time before we know if it’s here to stay.