Quibi- Who Had Burn $10 Billion, Went Bankrupt

Apart from the video itself, Quibi also features a black technology for watching movies, which is called Turnstyle. For the same movie, the audience can choose to watch it horizontally or vertically on the mobile phone to experience different perspectives. Horizontal screen is panoramic while vertical screen is close-up. It could be seamless switching at any time, and playback will not be interrupted.

Some directors have also developed special ways of playing. For example, the thriller Wireless will be played normally and smoothly by horizontal screen. But if you turn the screen into vertical, the screen will switch to the hero's mobile phone screen. The audience can watch the hero's phone calls and send messages from the first perspective.

Quibi was downloaded by 300,000 users on the first day when it was launched, and it was once ranked the No.3 in Apple App Store. But dreams are always beautiful. Nobody could imagine that Quibi’s appealing points all turned out to be its weakness.

Reasons of Quibi’s Failure

Bad Contents

In the aspect of content production, Quibi targets platforms such as Netflix, HBO, and Disney+, and it focus on high quality PGC contents. To catch up with its target, Quibi has signed up an array of A-level Hollywood production teams and stars, and the most expensive cost of TV series production can be up to $100,000 per minute. Such large amount of money Quibi has invested and sophisticated production bring Quibi 10 Emmy Nominations and 2 Emmy Awards in 2020.

Even with the award-winning glory, users still don't buy it. Quibi has yet produced any hot-trend content. In fact, though Quibi is willing to pay huge sums of money, the best scripts still prefer to be released in well-known platforms, such as Netflix and HBO. After all, a big platform means more public exposure and attention, and Quibi users are insignificant in front of their billion-level traffic. Therefore, Quibi is only the secondary choice of a good creator, and Quibi may have the stunt of a A-level production but with a second-rate script behind it.