The company has recently announced that it is pulling down the platform which was aimed at smartphone users who are hungry for entertainment.
It was introduced in April with content specially made for busy people just as the outbreak compelled them to slow down and stay at home and relax.
The start-up’s catalog of programs is going to be sold to companies such as NBCUniversal as well as to Facebook without success.
The streaming service has more than a hundred original series that spanned a variety of genres with episodes especially structured for viewing on smartphones and lasting not more than ten minutes each.
It has a collection of world-class creative and engineering teams that made an original platform fuelled by ground-breaking technology and IP, which has enabled the consumers to view the premium content in a whole different way.
Image from Quibi
The company is now planning to slow down its operations and sell off the company’s assets.
The inexperienced platform scored ten nominations for Emmy including for cop spoof revival Reno 911! and Most Dangerous Game including 2 Emmy wins for actors who were there in “#FreeRayshawn.”
The streaming platform had bet that it can change entertainment with brief, Hollywood-quality video clips.
The company had also wished to keep its users coming back with everyday news, sports, and entertainment tv shows.
According to the chief executive of the streaming platform, it was a huge idea and no one wanted to make a huge success of it more than they did.
The failure was not due to lack of trying as they had tried every option but it did not work.
While Quibi is specialized in short-form tv shows to watch during their spare times, people found time for big-screen choices in a gradually competitive streaming tv market.
The platform too had to compete for younger audience’s time with millions of free, which is mostly user-generated, videos hosted by other platforms such as YouTube, TikTok, Facebook, and Instagram.