Quibi, the streaming service that no one wanted, is exploring potential options to keep itself alive. In the wake of a weak rollout during the onset of the coronavirus pandemic, the mobile-only platform that presents episodes of series in segments no longer than 10 minutes, has tried to reinvent itself time and again. First, it launched for free to entice viewers before charging a monthly rate. After that, Quibi tried backing out of its mobile-only approach and released support for televisions and computers. Now, it appears as if the platform is running out of ideas, and may sell to a new investor or scrap themselves and sell their IP for whatever they can get.
Quibi does have some lucrative properties at their disposal. Amidst a bevy of reality series, they are home to the remakes of MOST DANGEROUS GAME and THE FUGITIVE as well as Sam Raimi‘s 50 STATES OF FRIGHT, Veena Sud’s acclaimed THE STRANGER, the John Travolta and Kevin Hart comedy DIE HART, and much more. Many of those series have already been renewed for second runs which could easily be converted by another streamer into feature-length films or event series.
The problem with Quibi was not that it had a unique approach to storytelling. Serial releases date all the way back to the days of Charles Dickens and are nothing new. The problem is that Quibi assumed the ADHD-laden post-Millennial generation would eat up the chance to watch these stories despite having dozens of other services to choose from as well as the ever-available YouTube.
A Quibi spokesperson said the company doesn’t comment on rumor or speculation, adding, “Quibi has successfully launched a new business and pioneered a new form of storytelling and state-of-the-art platform. Meg and Jeffrey are committed to continuing to build the business in a way that gives the greatest experience for customers, the greatest value for shareholders, and the greatest opportunity for employees.” (via Deadline)
What do you think of Quibi’s present situation? Should the platform sell to another company and hope that they have better luck? Maybe it can shop its most successful IP to other platforms in an attempt to recoup its losses? Let us know what you think their best move is in the comments section down below.