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$1.75 billion burned for only six months! The most magical project in the United States

via:驱动之家     time:2020/10/24 19:01:18     readed:113

Sorry to disappoint everyone.

On 6 April, the Quibi officially launched and on 23 October, the Quibi announced its imminent closure. The dream of $1.75 billion (11.6 billion yuan) was broken in just six months. Carsenberg ,70, and whitman ,62, wrote that our failure was not due to a lack of attempt but because we thought and exhausted all possible ways.

The card God is not working, how much is a sentence after. After all, when quibi was just a PPT, it attracted a large amount of financing, luxurious production team and star lineup. There is a saying in the industry that if you don't participate in any project of quibi, you can't be regarded as a real Hollywood person.

Quibi seems to have gathered all the elements of success, which step is wrong? In their statement, Carsenberg and Whitman said:

There may be two reasons for Qubi's failure: 1. The product concept is not enough to support it as an independent streaming media service; 2. Quibi was born at the wrong time.

Is the timing of Carsonberg's entanglement so important? Why can Netflix gain growth in an adverse external environment, but not Quibi.

Quibi is a product specially designed for mobile terminals. Karsenberg hopes that people will develop the habit of using the time between commuting and queuing. Of course, what he wants to show users is not the casual UGC content. But when everyone is stuck at home because of the epidemic, and those who want to watch immersive movies can watch paid content on Netflix, and there are also free short video platforms like tiktok that can be swiped. Why do users have to subscribe to quibi?

At least in the past six months of the epidemic, quibi has not had any use scenarios.

If there has to be a reason to pay for quibi, it is karsenberg himself. He saved Disney, which fell into a low ebb in the 1980s, and renewed its charm with blockbuster films such as "Little Mermaid" and "Lion King". Then, he founded DreamWorks, still brilliant.

His past experience gave him confidence. He once said that I was not a child or a mother, but the two types of people I photographed loved to watch. I knew young people better than young people. But if you follow too much, or just follow your feelings and experiences, self-confidence becomes arrogance. At least from karsenberg, we don't see the awe of building a product in the Internet age. He doesn't want to know young people, and even thinks they should listen to him.

What should be a product under the mobile Internet?

In terms of content form, quibi is a new species. But this species is a bit twisted. If tiktok wants to be a YouTube (UGC) on the mobile end, quibi is actually benchmarking Netflix on the mobile end, with delicate and high-cost PGC as the main target.

The goal is to consume the fragmentation time of users. Quibi sets the time of each episode to 7-10 minutes. But karsenberg has put forward new requirements for the production team. When a traditional two-hour movie is divided into twelve chapters, each chapter can not be a simple cut of the long film, and the ending needs to leave a suspense.

The 10 minute play also adds a review of previous events and suspense settings. The short length of the main film is not satisfying. In addition, the update frequency of Geng Yiji can't keep up with the needs of users, so users will naturally lose.

In the previous reports of geek Park, there are many signs that karsenberg is making a mobile Internet product with traditional Hollywood thinking. Ben Thompson, a well-known technology blogger, said in this comment that film and television are defined by scarcity. There are so many cinemas and so much time for people. One must judge what content will be valuable and popular. In order to meet the scarcity, high-quality content must also be scarce. That's what karsenberg and Hollywood did in the past.

However, in the Internet age, especially in the mobile Internet era, mobile phones are not only consumer devices, but also creative devices. Any place and anyone can make and upload content. When richness replaces scarcity, there is no need for human scheduling like karsenberg, and algorithms can be used to change and improve our video entertainment experience. Tiktok grew up in this context.

Here's an interesting quote from kassenberg and whitman: they think the reason Quibi failed is that the product concept was n' t enough to support it as a stand-alone streaming service. At the beginning of Quibi birth, people who are not optimistic about it often ask questions

Is quibi able to provide exclusive and high-quality video content, or does it subvert the way users consume video?

Answer: Quibi have exclusive content, but there is no quality so that users are willing to pay $4.99 a month (see ads). Quibi only did the innovation of content form

And its so-called function innovation: turnstyle horizontal and vertical screen switching function; the combination of mobile phone functions such as GPS, vibration, ring tones and other functions with the story plot is called at a specific time. For example, "after dark" can only be seen after dark. These are typical ideas. The number of quebi subscribers is enough to illustrate.

In his bones, kasenberg wanted to maintain the scarcity of films and television in the last era, and Qubi lost its resonance with the era.


Quibi hopes to attract users with innovative content, which obviously belongs to the official advertisement screenshots

Quibi doesn't need users

Quibi can be called one of the most magical and exaggerated projects in the United States in the past year.

When the company was not officially established, it had a billion dollars to be successful. Its early resources, from investors (Disney, Time Warner, Sony, Alibaba, etc.) to partners, can be regarded as luxurious.

1.75 billion, Quibi almost all spent, only 350 million returned to shareholders. Before seeing any return, Quibi decided to spend $1.1 billion on content production in the first year, burning $100,000 in a minute. Quibi even put $470 million into marketing, Super Bowl, Oscar, Fortress Night, and you've seen ads everywhere before the product goes online.

Quibi's goal is to have 7.4 million paying users in the first year, which is almost 3.7 million in half a year. Sensor tower released several data at the end of quibi's three-month trial period, with a total download volume of 4.5 million times. In the first three days of publication, that is, April 6-8, the download volume was 910000, of which 72000 people continued to subscribe after the trial period, with a conversion rate of 8%. According to this data, quibi has 360000 paying users at the end of the trial period.


The comparison of Disney and HBO NOW,Quibi on-line user installed volume data performance |Sensor Tower poo

Quibi's input-output ratio does not see an inflection point.

Quibi is like a giant baby, whose body is quickly fed with delicious food and drink, but the mind fails to keep up. The so-called mind means that all of karsenberg's conjectures have not been verified by users and the market, and the product has not gone through iteration.

Two days before the announcement, quibi launched apps for Apple TV, Android TV and fire TV, but there has been a long history of complaints that quibi does not support large screens. But on second thought, even if quibi supports TV and big screen, will there be a turnaround? Who wants to watch a movie well is still a 10 minute cut.

'we think and do everything we can,' Mr. karsenberg and Mr. Whitman said. Rather, they don't have the opportunity to fix and iterate.

We opened the door to the most creative and imaginative people in Hollywood, innovating from script to screen, and content beyond our expectations. We asked engineers to build a mobile platform to make a new form of story telling possible. The world's biggest advertiser has joined us

In the statement, quibi thanks the production team, investors, employees, and even advertisers, but not the users who paid for them.

Some people in the comments section of variety, an entertainment website, wrote that they know that music streaming on mobile phones and tablets has replaced CDs, so if video streaming wants to replace cable TV, it must also be carried by smart phones. They don't know if this is what we want.

The content of quibi's fancy shooting is put on the wrong carrier, which is just one of the many dissatisfaction voices. If you don't listen to the users and the market, the product will inevitably fail.

And this is inseparable from the arrogance of karsenberg.

When quibi was still in her mother's womb in 2017, he asserted that it was a project bigger than DreamWorks. He still expects the audience to take the initiative to enter the cinema. There are films he has made carefully. He doesn't have to pay much attention to the reaction and expression of the audience, because he knows that to some extent, he is equal to success itself.



#Short video

Original link:Geek Park

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