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Jeffrey Katzenberg blames COVID-19 for Quibi's paltry downloads as execs lower projections from 7M users and $250M subscriber revenue estimated for first year

Downloads of the $1.8 billion short-form streaming app, meant for phones, are paltry.  “I attribute everything that has gone wrong to coronavirus,” Mr. Katzenberg said.

New York Times Nicole Sperling

Discussion

  • @pitdesi Sheel Mohnot on x
    Quibi downloads over time https://twitter.com/...
  • @hshaban Hamza Shaban on x
    The full Katzenberg quote is wild: nothing bad is our fault but we own it. https://www.nytimes.com/... https://twitter.com/...
  • @mulegirl Unapologetically Erika Hall on x
    Please DM me if you have other info, but Quibi strikes me as based on: a lot of wishful assumptions, a total lack of exploratory research into media consumption habits, and a survey along the lines of “How likely would you be to watch original short programming on your phone?” ht…
  • @benprunty @benprunty on x
    My explanations for Quibi's existence are either it was a bunch of out-of-touch Hollywood execs being genuinely clueless but too rich for anyone to say no to them, or the whole thing was some kind of elaborate front for tax evasion https://twitter.com/...
  • @dellcam Dell Cameron on x
    i have no idea what Quibi is https://twitter.com/...
  • @arthur_affect Arthur Chu on x
    The idea of a web video service for “people who don't really have the time to watch web videos” was never good https://twitter.com/...
  • @ws Will on x
    the lack of self-awareness is staggering https://twitter.com/...
  • @evoli Cody Conners on x
    This is just a wild train wreck and I loved every second of this read. https://www.nytimes.com/...
  • @alistairmbarr Alistair Barr on x
    If you can't launch a streaming service with the world stuck at home with nothing to do, then it's prob not going to happen. https://twitter.com/...
  • @mattoswaltva Matt Oswalt on x
    he's right, a pandemic resulting in millions of people with short attention spans stuck at home all day bored and desperate to be entertained was EXACTLY the scenario Quibi didn't want https://www.nytimes.com/...
  • @sruhle Stephanie Ruhle on x
    Blame EVERYTHING on Corona? - Everything - Always - Never David Einhorn once told me it's a red flag when any biz or govt leader uses those words. https://twitter.com/...
  • @onesarahjones Sarah Jones on x
    I don't know much about anything that isn't the Bible, Lord of the Rings, or unions, but how did anyone think this was gonna work out https://www.nytimes.com/... https://twitter.com/...
  • @adamsinger Adam Singer on x
    How did they screw up even the most obvious of things. https://twitter.com/...
  • @kamilumin BernieBromo on x
    Me when my tweets flop https://twitter.com/...
  • @darren_mooney Darren Mooney on x
    You created an application that couldn't stream from a phone to TV. You designed its contents to be friendly to vital distribution, but prevented users from taking screenshots or making gifs. You threatened to sue those podcasters promoting your product. But sure. Coronavirus. ht…
  • @devonesawa Devon Sawa on x
    When no one is watching your show and you blame it on everyone at home in front of the TV. https://twitter.com/...
  • @mathewi Mathew Ingram on x
    Jeff Katzenberg blames coronavirus — a thing that has caused people to consume orders of magnitude more content, especially on their phones — for the failure of his horribly named Quibi service https://www.nytimes.com/...
  • @willmcavoyacn Will McAvoy on x
    It's literally one of the only products that should have seen an increase in usage. https://twitter.com/...
  • @hshaban Hamza Shaban on x
    Katzenberg appears to suggest that Quibi didn't realize people like to watch shows on their TVs and that people like to share content online...until the Quibi app went live and they started analyzing user data. https://www.nytimes.com/... 🤔🤔🤔 https://twitter.com/...
  • @theryanford Ryan Ford on x
    The perfect time to consume entertainment is when you're stuck at home, desperate for ways to busy yourself. While Disney+ and Netflix are seeing big gains, Quibi isn't. Is it because their format leans on “quick bites” of media? Or is it because it's just a bad idea? https://twi…
  • @brianmcc Brian McCullough on x
    Why they insist on being the gift that keeps on giving, I dunno. But I'm here for it. https://twitter.com/...
  • @fuzzybritches Trent Reznor Ramon on x
    Yeah, a streaming video service is really gonna take a hit while everybody is stuck at home looking for entertainment https://twitter.com/...
  • @hannonizer Cabin Fever Jhann on x
    Launching a bunch of content that is short form and optimized for mobile... and then EXPLICITLY preventing people from sharing clips/screenshots on social media is an incredible unforced error. Look at tiktok: it optimized for sharing and 🚀📈🤑 Look at Disney+'s Baby Yoda gifs http…
  • @pete_scanlon Falta on x
    Sure that's one possibility. Another would be people not knowing what it is or why they'd want it https://twitter.com/...
  • @sameerpatel Sameer Patel on x
    Seems counterintuitive. We have a LOT less time to watch long form TV now that we are juggling work and home 24/7. Logically speaking, we only have time for bite sized content consumption. https://twitter.com/...
  • @brianfagioli Brian Fagioli on x
    @Techmeme @nicsperling Blame Covid and people being in self quarantine for a streaming video service underperforming? That's kinda insane. If you can't succeed when people are stuck at home with nothing to do, you might as well give up now...
  • @isaackrasny Isaac Krasny on x
    I really think this team raised billions without having an actual strategy beyond “shorter episodes” People are spending more time than ever on their phones and they're saying “well it's not meant to be consumed *at home*” https://twitter.com/...
  • @contrarianp David V. Johnson on x
    How can a streaming app survive during a pandemic in which everyone is stuck at home desperate for diversion? https://www.nytimes.com/...
  • @bobbierman Bob Bierman on x
    The greatest gift to streaming services & at-home entertainment is apparently responsible for the anemic performance of the most expensively-funded startup streaming service targeted to at-home users. https://twitter.com/...
  • @shaig Shai Goldman on x
    Netflix setting records Disney+ setting records But Quibi is blaming covid? https://twitter.com/...
  • @jeffersongraham Jefferson Graham on x
    A fun read of an app that made no economic sense to me. Who would pay to watch this stuff? Not me. https://www.nytimes.com/...
  • @tomgara Tom Gara on x
    Obviously everything Quibi related here is extremely Quibi, but I want to know the logistics of Jeffrey Katzenberg having three breakfast meetings and three lunch meetings every day. https://www.nytimes.com/...
  • @dylanbyers Dylan Byers on x
    “I attribute everything that has gone wrong to coronavirus,” Mr. Katzenberg said. “Everything.” https://www.nytimes.com/... Respectfully, No.
  • @karynspencer Karyn Spencer on x
    the story of Quibi is very simple from my POV: people with connections and the ability to raise a ton of money should focus on that and then hire a bunch of youngs to make the content and UX decisions. rebooting every show people used to like is not modern innovation. https://twi…
  • @jbillinson Josh Billinson on x
    No one at Quibi considered that making it almost impossible to share a screenshot or clip of a show would effectively shut down any online conversation about their content? https://www.nytimes.com/... https://twitter.com/...
  • @tomgara Tom Gara on x
    Truly, the cluelessness involved in launching a mobile native streaming service in 2020 but preventing users from taking / sharing screenshots of it, it's mind blowing https://twitter.com/...
  • @tvgrimreaper @tvgrimreaper on x
    Worth repeating: @Quibi is a bad business idea, badly executed. Their consumer proposition is nonsense, and is already being abandoned. Their business model is fantasy. Their tech execution is clumsy. Their content is nothing special. Yet, Katzenberg's ego remains intact. https:/…
  • @thekenyeung Ken Yeung on x
    When asked about Quibi vs TikTok: “I don't know what people are expecting from us...To tell me about a company that has a billion users and is doing great in the past six weeks, I'm happy for them, but what the hell does it have to do with me? https://www.nytimes.com/...
  • @thekenyeung Ken Yeung on x
    When asked if he regretted launching Quibi in April, Jeffrey Katzenberg said: “The answer is, it's regrettable. But we are making enough gold out of hay here that I don't regret it.” https://www.nytimes.com/...
  • @thekenyeung Ken Yeung on x
    Katzenberg reveals that soon Quibi content will be shareable on social media platforms. The move comes after users criticized the service for that inability. https://www.nytimes.com/...