Quibi Weighs Shutting Down as Problems Mount – WSJ:
Quibi Holdings LLC is considering shutting itself down, according to people familiar with the matter, a move that points to a possible crash landing for a once-highflying entertainment startup that raised $1.75 billion in capital.
Just a reminder from the past…
Is Anyone Watching Quibi?:
People have wondered why Katzenberg and Whitman, in their late and early 60s, respectively, and not very active on social media, would believe they have uniquely penetrating insight into the unacknowledged desires of young people. When I ask Whitman what TV shows she watches, she responds, “I’m not sure I’d classify myself as an entertainment enthusiast.” But any particular shows she likes? “Grant,” she offered. “On the History Channel. It’s about President Grant.”
Katzenberg is on his phone all the time, but he is also among the moguls of his generation who have their emails printed out (and vertically folded, for some reason) by an assistant. In enthusing about what a show could mean for Quibi, Katzenberg would repeatedly invoke the same handful of musty touchstones — America’s Funniest Home Videos, Siskel and Ebert, and Jane Fonda’s exercise tapes. When Gal Gadot came to the offices and delivered an impassioned speech about wanting to elevate the voices of girls and women, Katzenberg wondered aloud whether she might become the new Jane Fonda and do a workout series for Quibi. (“Apparently, her face fell,” says a person briefed on the meeting.)
These were the people who thought they were inventing the future of media.
God grant me a tenth of their confidence. And a tenth of their incomes, too.
But hey, in the meantime, you can finally watch their TV shows on TV. Now. 6 months later. If you stayed a subscriber. Which you probably didn’t.
Update: TheWrap is reporting the official meeting to close down Quibi is happening tonight.