After Quibi Finally Available To Cast To TV They Are Officially Shutting Down – A $2 Billion Dollar FAIL

We promised to say something when Quibi started supporting cast to TV in place of their “mobile-first” launch priority, so for those who have (very patiently!) waited, the time is now.

Now Quibi has launched on select smart TVs including Amazon Fire TV, Apple TV, and Android TV. This just leaves out Roku and other smart TVs for the moment. This move is the latest in the short-form streaming service’s effort to reach more viewers amid dwindling performance.

Quibi is Now Available on Apple TV, Amazon Fire TV, and Android TV | Cord Cutters News

Unfortunately that’s the good news. The bad news for Quibi fans is they are “winding down the service” and selling whatever they can.

Whitman reiterated her prior assertions that the company had adequate capital to continue operating for several more months. Instead, she said, “we made the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our talented colleagues with grace.“ She added, “We continue to believe that there is an attractive market for premium, short-form content. Over the coming months we will be working hard to find buyers for these valuable assets who can leverage them to their full potential.”

Quibi To Shut Down, Ending $2B Streaming Experiment – Update

Quibi does have some content that is worthwhile, so somebody will be interested — when the price goes low enough. I would have picked Apple as the most likely suitor, but apparently others have passed as well (see: Apple, WarnerMedia and Facebook Reportedly Say No To Buying Quibi).

It might sound like we’re dancing on their grave, but the truth is they took a bunch of investor cash and squandered it with an idiotic launch strategy. You don’t launch a streaming movie and TV show app without, well, widespread TV support (see: Quibi is the Cats of streaming services). Duh.

Investors have to be pissed. Quibi has burned through something like a billion dollars for this launch and have only a couple million ~750,000 subscribers to show for it.

Six months since launch, three of those months were offered free as incentive to join and then many bailed when they had to actually pay for the service (see: Less than 10% of Quibi FREE 90 day trials converted to paid subscribers). Yeah, it’s been a horrifically bad launch for this streaming service.

We’re sorry most for the 200+ employees who are losing their jobs. A lot of people are losing jobs out there in 2020 and that is the true tragedy in this story.

And now let the official Quibi Fire Sale begin. Who will buy their content? I still think Apple should jump in, as they have the barest content cupboards, but something tells me they won’t want to nibble on any Quibi leftovers. Netflix? They might do like what they did with YouTube Red (Cobra Kai!!!) and cherry pick some licenses for second seasons. Amazon? Same thing. HBO Max? Peacock? Hulu? CBS, er Paramount+? Let’s hear what you think below.