What Quibi Must Do to Recover From Slow ‘Start Out of the Gates’

Quibi, the new mobile-video streaming service that launched Monday to mixed reviews and a lackluster 300,000 downloads in its first 24 hours, will need more compelling content to make good on its massive $1.75 billion investment, several analysts told TheWrap. Given that Disney+ signed up 4 million subscribers on its first day last November, the Quibi debut was “not a great start out of the gates” for founder Jeffrey Katzenberg and CEO Meg Whitman, Wedbush analyst Dan Ives told TheWrap. Ives said Quibi, which will cost between $4.99 and $7.99 per month following its free 90-day trial, will need to distinguish itself from a crowded market of streaming services with hit shows if it wants to pull eyeballs away from bigger — and cheaper — outlets.