Front Burner

Quibi: Why the $2 billion video app is failing

Just two months after its launch, the video-streaming app Quibi is struggling to live up to its hype. With two major moguls at the helm and nearly $2 billion of start-up cash — why has it struggled to succeed?
Quibi CEO Meg Whitman (R) and Quibi founder Jeffrey Katzenberg speak about their short-form video streaming service Quibi during their keynote address January 8, 2020 at the 2020 Consumer Electronics Show (CES) in Las Vegas, Nevada. (Photo by Robyn Beck / AFP) (Photo by ROBYN BECK/AFP via Getty Images) (Robyn Beck/AFP via Getty Images)

In the midst of a pandemic, two veteran executives launched Quibi — a video-streaming app intended for watching on the go. With nearly $2 billion in cash invested and a huge roster of A-list celebrities creating content, it seemed like a recipe for success. But two months later, the app has largely missed the mark, with subscriptions way below expectations. 

Today on Front Burner, we talk to Kathryn VanArendonk, staff writer for New York magazine, to find out why Quibi is failing.

 

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