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Streaming war takes first casualty with Quibi shutdown – rts.ch

As the supply of video on demand explodes, Quibi, which relies on smartphones, has been closed. The effects of the pandemic are in question, but also the economic model.

The adventure came to an end for Quibi after only six months of activity for this service which wanted to revolutionize the consumption of videos on mobile phones. However, everything pointed to a bright future.

Stars, like Steven Spielberg, flocked to make films specially designed for smartphones. So much so that the company had raised nearly 2 billion francs even before the launch of its application.

Former Disney boss Jeffrey Katzenberg has announced the closure and resale of his catalog and other assets. “We had in mind to create the next generation of narrative formats,” recalls Meg Whitman, the company’s CEO and former director of Hewlett-Packard, in an open letter.

A launch in the midst of a pandemic

Quibi had bet big, with 50 programs available from day one and feature films paying up to $ 100,000 per minute, like the big Netflix productions.

But the Covid has been there. Quibi offered short formats, lasting about ten minutes, specially designed to be seen on public transport. The video could be viewed both horizontally and vertically.

But during confinement, spectators favored long, traditional formats. It must be said that competition is fierce in the subscription VOD market. The success of Netflix has made people envious.

A competitive market

During the past year, Disney, Apple or even HBO have launched. Quibi offered the same prices, but for short videos. She paid the price for this streaming war.

This experience does not discourage the new players: TF1, M6 and France television released together this week Salto, their pay video on demand service.

Pascal Wassmer avec afp

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