If Hollywood and Silicon Valley created a baby, they might call it Quibi. At least, that’s how veteran film mogul Jeffrey Katzenberg and tech executive Meg Whitman view their fledgling creation.
. We’re not Snapchat. We’re not Instagram TV. We’re not YouTube. We’re Quibi, and it’s not denigrating those platforms at all ... but we’re staking out a premium position relative to those.”from Disney, WarnerMedia, and other major studios and investors, gone on a hiring spree and released a flurry of announcements for upcoming projects with prominent filmmakers.
In many ways, the pair are opposites. Whitman, the company’s CEO, is a former Republican candidate for governor, with a track record of leading major Silicon Valley tech companies like online auction site eBay and Hewlett Packard Enterprise. “We cannot be more different from each other, and the fact that we could find a good partnership in that is now turning out to be the superpower in it,” Katzenberg said. “For me, I always have big plans and lots of dreams and, you know, somewhat impractical, and Meg is buttoned-down, ‘Let’s have this plan, let’s figure out this day everything that is going to go wrong’ kind of person,” he said.Each cites different reasons for why Quibi will succeed.
The duo collaborate daily and don’t always agree. In its original plan, Quibi had considered mining and monetizing data, Katzenberg said. When Whitman looked at the plan, she disagreed with that idea. Much of the money Quibi has raised has gone toward buying content and marketing. The company may raise $500 million more in investment in the fall, Whitman said.
If viewers choose to like the series on the app, they’ll be notified of a new episode with the same creepy ring tone heard on Clare’s cellphone when she receives a text from the sociopath, Sud said. Unlike other platforms, Quibi offers a premium price for content and gives creators more flexibility. The start-up is willing to pay up to $6 million an hour for long-form narrative content.
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