Quibi is a new short-form video streaming service that launching in the middle of the Coronavirus pandemic. Founded by Hollywood mogul Jeffrey Katzenberg, Quibi has encountered quite a few issues reaching an audience. In fact, Katzenberg stated in an interview that he blames Coronavirus for their slow growth.
According to a new study, Quibi has lost almost all of their users after their initial 90-day free trial. The study states that Quibi was only able to retain about 8% of their original audience. To compare Quibi to Disney+, Disney was able to retain 11% of their users after their 7-day free trial expired.
Quibi had 4.5 million downloads during their 90-day free trial and were only able to convert 910,000 into paid users. Disney+ was able to convert 1 million of their 9.5 million downloads into paid customers.
A spokesperson challenges the numbers in a statement saying “The number of paid subscribers is incorrect by an order of magnitude…over 5.6 million people have downloaded the Quibi app.”
Quibi offers two different plans: $4.99 a month with ads and $7.99 for an ad-free experience. Many social media users don’t understand what Quibi is.
