Quibi shuts down following lockdown marketing misstep

The unique idea of hosting quality short-form chapters no longer than 10 minutes, specifically designed for viewing on a smartphone was certainly an appealing one and possibly a few better marketing decisions away from becoming a hit with Gen Z. Sadly, company eagerness seemed to override what should have been a measured approach in the build up to launch.

The glee about Quibi's failure seems to me misguided. Startups are hard. There's no honor in applauding when they fail. To me it's impressive that people so established would undertake a project so risky. Especially considering the probable reaction if they failed.

— Paul Graham (@paulg) October 22, 2020

Former eBay chief Meg Whitman had cleverly peddled Quibi as the ‘ultimate on-the-go diversion’ for commuters wanting to consume top-notch content in a short space of time, which perfectly aligned with Gen Z’s busy lifestyle and notoriously short attention spans, but when lockdown hit Quibi’s ethos was radically spun to push the launch within an entirely different landscape.

In April, seniors proclaimed Quibi as a ‘distraction to bring relief to those looking to escape from the realities of COVID-19,’ pitting it squarely against longform streaming giants Netflix, Amazon Prime, and Hulu, who were reporting spikes in engagement with the new captive audience. Industry concerns that 10-minute snippets probably wouldn’t cut it with people looking to fill their days quickly rang true.

“Quibi is calling it quits.”

“What’s Quibi?”

“Exactly.”

— Overheard (@realoverheardla) October 22, 2020

A report from app tracking firm Sensor Tower in July claimed that Quibi lost over 90% of its subscribers after the initial three-month trial ran out, with as few as 70,000 of its roughly 910,000 viewer base sticking around to pay monthly fees of either $4.99 (with ads) or $7.99 (ad free).

What will happen to Quibi’s expensive line-up of star-studded shows and miniature films remains to be seen, but with such a meagre turn out in terms of revenue and viewing figures there aren’t too many hungry suitors right now.

It’s a grave shame really. On paper, Quibi and Gen Z seemed a real match made in heaven, but it appears the decision to launch in lockdown was the crucial misstep that killed the project stone dead.

RIP Quibi.