The ever reliable Dark Horizons is reporting that Quibi is already exploring options for a sale. They are reporting on a Wall Street Journal story that states Quibi is concerned about it’s lack of traction and is exploring a wide range of financial options.
The pandemic hit it’s stride in March, and the service launched in April. It was hoped the heavy streaming growth seen during the pandemic would carry it home but they made a fatal error. With it’s short-form shows and mobile only platform it quite clearly had the potential to be the commuters best friend. Train and subway journeys the world over could be made more palatable with some Quibi content. However nobody was getting on a train anymore. Offices were silent, subways were deserted. Nobody was getting on planes either.
Quibi raised about $1.75 billion from major studios. It had a fleet of heavyweight investors and has original series on the shelf featuring some pretty big talent. It wasn’t enough. It has failed to launch and hasn’t connected with the public at all.
Die Hart, Wireless and #FreeRayShawn are well regarded with the latter even winning an Emmy this past few days. The numbers, however, just aren’t there. Could it be a potential bargain for somebody to snap up? Then develop beyond the limited platform to leverage the content? Whoever it is, they would have to be brave. Brave… and rich.
Sounds like a job for Bruce Wayne. A scenario as realistic as Quibi’s chances of survival at this point.