Quibi Quickly Bites the Dust

The short-form video app plans to shut down in December

Quibi was founded on the belief that people need, want, and are willing to pay for high-production value, short-form content that’s viewable on a mobile screen. Six months later, that idea hasn’t played out. In December, the app will be shutting down, taking with it millions of dollars in investment. Over the past decade, platforms like Snapchat, TikTok, Instagram and YouTube have changed consumer expectations around video, especially video that’s available for free. Rather than adapting to the ecosystem created by on-demand video, Quibi sought to upend it, creating a serial format that banked on novelty and talent rather than true originality. Format alone, especially when priced at a premium, is not enough for a platform to succeed.

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