Quibi quickly captures 1.7 million downloads; fast-tracks plans for shows on streaming TV

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Quibi
Quibi is taking a different approach with streaming.
Photo: Quibi

Quibi, the new smartphone streaming service with 10-minute program, keeps wracking up the downloads and may give viewers a choice to watch its “quick-bite” shows on streaming TV.

CEO Meg Whitman told an interviewer Monday that Quibi has had more than 1.7 million downloads since launching one week ago.

The app was founded by Whitman and Hollywood Director Jeffrey Katzenberg and launched while many streaming services have a captive audience quarantined by the COVID-19 pandemic.

That and a free 90-day trial can also benefit Quibi, which will eventually charge $4.99 (with ads) and $7.99 per month.

Whitman told the CNBC show Squawk on the Street that data showing high engagement may put Quibi on a fast-track to TV as a way of viewing its programs. She said 80 percent of the people who started a show watched it through its conclusion.

Quibi has sold all its advertising slots for the remainder of the year, another sign the streaming service is a growing force.

The app’s name is a mash-up of the words quick and bite. It launched last week with two dozen shows and expects to have 175 titles by the end of the year. Several big names are producing short-form content, including Chrissy Teigen, Tyra Banks, Chance the Rapper and Nicole Richie.

It started its second week with seven new shows, including Elba v. Block, an unscripted series with Idris Elba and Ken Block.

Source: CNBC