After all the hype and a barrage of TV promoting, Quibi tallied over 1.7 million downloads in its first week after launch. CEO Meg Whitman revealed the stat to CNBC’s David Faber this morning, additionally noting that the median age of Quibi viewers is (thus far) someplace within the low 30s.
Quibi, which is solely out there on Android and iPhone, provides customers a free trial interval of 90 days, and the corporate previously said it would “refrain” from disclosing subscriber numbers and app obtain figures till after the trial window. 1.7 million is a bit higher than analysts had been anticipating, with estimates ranging between 1 and 1.5 million. However that quantity remains to be small potatoes in comparison with Quibi’s a lot bigger rivals. Disney Plus surpassed 10 million customers (and three.2 million app downloads) on its launch day, which is a tricky act to observe. After the trial, Quibi costs $4.99 monthly for an ad-supported plan or $7.99 for commercial-free viewing.
Whitman famous that 80 p.c of shoppers who begin watching a present not less than end the primary episode. That’s not essentially spectacular when you think about that Quibi’s “fast bites” content material all the time runs underneath 10 minutes in size. So it’s under no circumstances clear whether or not any of Quibi’s originals have endurance, and making exhibits more durable to share isn’t serving to. On a separate Fox Enterprise interview this morning, Whitman talked about that Quibi is stocked up on authentic programming via November.
Quibi’s different essential drawback is an absence of TV assist. Jeffrey Katzenberg and Whitman launched their massive streaming gamble with none sort of TV app or large-screen expertise, however the firm appears to be fast-tracking that half now — after preliminary opinions cited it as a significant draw back to the paid video service. “We had all the time deliberate to have the ability to forged to your TV, so we’re going to see if we are able to speed up that within the engineering roadmap,” Whitman mentioned on CNBC. “We’ll ultimately get there, but it surely was by no means part of the launch. If we had recognized about COVID, possibly it will have been.”
(Disclosure: Vox Media, which owns The Verge, has a cope with Quibi to provide a Polygon Every day Important, and there have been early talks a few Verge present.)