“Promise me if I die, bury myself with my $ 1.75 billion arm.”
How could Jeffrey Katzenberg – the man who pioneered: “What if Martin Scorsese were a fish?” Film technology – so wrong? How could Meg Whitman – a billionaire who advised on both Mitt Romney presidential campaigns – missed the mark in a streaming app aimed at capturing those sweet millennial eyeballs? We now have the answer to “Is someone watching Quibi?” and it’s “no, lol.” On Wednesday, three months after the much-vaunted launch of the streamer and 90-day trial, the mobile analytics company Sensor Tower estimated that only about 72,000 Quibi’s first-time users stayed nearby and turned into paying subscribers. That’s an 8 percent conversion rate.
The Sensor Tower report tracked Quibi users who signed up “from the first few days” when the three-month trial was offered. This totaled 910,000 users, but did not include users who signed up in May or June. A Quibi spokesman said the Verge “Over 5.6 million people downloaded the Quibi app” and contested the Sensor Tower report. “The number of paid subscribers is an order of magnitude wrong.” However, the streamer has not publicly reported its total number of paid subscribers. Quibi’s $ 1.75 billion gambling seems to be more and more “Sammy Paradise” every day.