Mobile streaming service Quibi has come and gone faster than many people may have thought possible.
The service lasted just six months overall, a feat that makes it one of the fastest streaming services to come and go ever.Â
The company faced monetary problems from the get-go and will be returning cash to its shareholders in the near future.Â
The company’s demise can be chalked up to a few different reasons, the primary one being that it was a mobile-only service which launched right during the coronavirus pandemic.
In addition, the service did not really have any breakout shows or content to lure in users.
Finally, there is already a lot of competition in the space for short-form content like TikTok, YouTube and more.
Quibi blames the fact that the service did not have enough to work as a standalone service and suffered from bad timing.
The company will now be forced to try to sell off some of the entities it does own as well as its existing technology which powered the service.
Quibi should be an important lesson for competing services and serve as a case study for years to come. Not too many will miss the service as it never really gained traction from paid users.
