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Quibi founder Jeffrey Katzenberg and CEO Meg Whitman offered an in-depth look at their new short-form video service during the Produced By conference on Saturday in Los Angeles.
Quibi (short for “quick bites”) was first unveiled by Katzenberg and Whitman back in August. The company has already raised $1 billion from investors, though Whitman noted they plan to raise “about half that” again either this fall or next spring.
Company - Projects - Works - A-listers - Guillermo
The company currently has projects in the works from A-listers like Guillermo del Toro, Antoine Fuqua, and Sam Raimi. Each series is expected to be two to four hours in length, with each one divided into segments that will be no longer than 10 minutes each.
According to Katzenberg, the service will have two pricing tiers at launch on April 6, 2020. The first will cost $4.99 with one pre-roll ad before each video segment — a 10-second ad if the video is less than 5 minutes and a 15-second ad for 5-10 minute videos. The ad-free option will cost $7.99. Whitman also said they expect to have approximately 7,000 pieces of content available within the first year.
MTV - Studios - Quibi - 'd - Out
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In terms of programming...
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