Quibi to shut down ‘on or around December 1st’

After The Wall Street Journal and other websites reported that the SVOD OTT Quibi will shut down, the company reported that the end of the platform’s operations will take place ‘on or around December 1st’. Quibi, with a content catalog of short content for mobile devices, had been officially launched in April. With the news, the platform will not be launched in Latin America.

Up to now, Quibi has not confirmed what will be the destination of the catalog available on the platform. Before its launch, Jeffrey Katzenberg and Meg Whitmann, co-founders of Quibi, managed to attract investment to create a content lineup, featuring great stars from the artistic world, such as Guillermo del Toro, Steven Spielberg, Ben Stiller, Keifer Sutherland, Idris Elba, Kevin Hart, Chrissy Teigen, Lorne Michaels, Sam Raimi, Antoine Fuqua, and others.

In September, The Wall Street Journal, quoting sources close to Quibi, had reported that new possibilities for the new platform were being evaluated, because it failed to attract the expected number of subscribers. Quibi’s content lasts at least 10 minutes and can be watched with the screen in portrait or landscape mode. The platform supported two subscriptions: one with advertisements, for USD 4.99 per month; and another without ads, for a USD 7.99  monthly value.