Details are beginning to emerge on how Quibi, a premium short-form mobile video subscription service, and one of the most eagerly anticipated media launches of the coming 12 months, plans to upend the global mobile video market.
Fronted by a star team comprising chairman Jeffrey Katzenberg, the one-time DreamWorks and Disney leader, and CEO Meg Whitman, HP’s former Global President, Quibi is taking a Hollywood-sized bet on the willingness of consumers to pay for high-quality content to watch on their smartphones in short bursts during peak daytime hours.
A-list names including Steven Spielberg have been brought on board to create big-budget episodic content where no video is more than 10 minutes in length. The ambition is to redefine mobile video consumption for busy consumers aged between 25 and 35, whose viewing is currently dominated by digital platforms including YouTube, Instagram and Snapchat.
Quibi recently revealed plans to launch on 6 April 2020 with a two-tier membership proposition – one featuring pre-roll video ads, costing $4.99 a month, and an ad-free version priced at $7.99 per month. Ad segments will differ depending on video length: for a video less than five minutes long there will be a 10-second ad; for videos between five and 10 minutes, there will be a 15-second ad.