The war of streaming has a new contender. When it seemed that everything was invented, at a time when the industry debate on whether there is sufficient market for such platforms as Netflix, Disney, Amazon or HBO, a start-up wants to give a new twist to what to audiovisual content is concerned. This week Quibi has launched its service minivideos only for mobile ready to demonstrate that you can innovate in one of the sectors most ripe.
This company has been able to convince the hottest thing in Hollywood and the star-system american to make a short story less than 10 minutes that can only be viewed on mobile devices. A disruptive idea that is born of the union of two historic as Meg Whitman, former CEO of eBay and HP, and Jeffrey Katzenberg, former president of Disney and co-founder of Dreamworks.
The power of this link is demonstrated both in the financial side as in the artistic. The company has achieved an investment that greatly exceeds the 1,000 million dollars of the giant Sony Pictures, Entertainment One, Walt Disney Company, Warner Bros, 21st Century Fox, MGM Studios, Madrone Capital Partners, Liberty Global, Time Warner and Alibaba.
In addition, heavy weights hollywoodenses of the size of Steven Spielberg, Christoph Waltz, Jennifer Lopez, Sophie Turner, or Zac Efron or stars like Lebron James will the first 50 pieces are already available on the platform since last Monday.
And is that a few slogans, explain how well the proposal of a product: “Quick bites. Big Stories”. To base of short pieces, the platform aims to engage audiences around the world a series designed to shine on the screens of the smartphones in a subscription service that starts with 90 days free and a price of 8.99 euros per month.
To register simply download the app from the stores of Apple or Android. Although the productions are american, all the content have subtitles in Spanish.
Throw in the middle of the coronavirus
The chance has wanted that the launch of this platform coincides with a time in which much of the world’s population attends bordered by the greatest health crisis in modern history. When questioned by the impact of the coronavirus in the launch of Quibi, Whitman explains how to its digital nature has provided.
“All of our employees are working from home. The good news is that we have been able to make a release completely virtual with no problems. In what has to do with the content, we accelerated our productions because we wanted to come out with the best offer. We have enough content to arrive without problems until the end of the year“explains the executive, in an interview with Bloomberg.
Even with all ready, the emergency situation caused the direction to be wondering whether they should stop the implementation of the project. “We knew that we could start but we wonder if we should do it. Our purpose is to entertain and inspire people, so we believe that we can contribute in a time so complicated. We cancel all the previous events and we did everything online. In the same way we have passed from an initial period of 15 days test at one of 90″.
Another of the innovations that has wanted to bring Quibi is their relationship with the creators. “We have some agreements for which we paid the cost of production plus a 20%. We license this content for seven years for our platform. After this time the content is 100% of the creators that you can do with it what they want.”
Finally, when questioned by the economic uncertainty generated by the crisis of the coronavirus Whitman explains that, in terms of the first year, have sufficient resources. “We’re a small company. Our predictions of advertising revenue during the first year are $ 150 million. At the end of the year, we will have information to understand how things are“.