FEATURE
CAN QUIBI TAKE A BITE OUT OF THE STREAMING MARKET? As the streaming wars heat up, Jenny Priestley takes a look at new shortform content platform Quibi and its potential to disrupt the market
B PICTURED ABOVE: Fred Black
ack in the summer of 2017 Jeffrey Katzenberg first announced plans to launch a streaming platform offering short-form content for mobile devices. At that time the SVoD world was in a very different place. Since then Apple, Disney, WarnerMedia and NBCUniversal have all revealed plans to launch their own streamers - although none of them will be focusing on short-form content. Now christened Quibi (short for Quick Bites), Katzenberg’s project is expected to launch in April 2020 and appears to be preparing by signing deals with some of the biggest names in Hollywood, from Steven Spielberg to Reese Witherspoon, Idris Elba and Kiefer Sutherland. The question remains though, can the market sustain yet another streaming service? According to Fred Black, analyst with Ampere Analysis, the answer is yes: “In terms of content there is nothing stopping Quibi finding an audience,” he says. “Short-form content has a demonstrable audience currently being catered for by the likes of YouTube and Snapchat. Monetising such an audience using paid short-form video is an unproven model however, with no significant successful precedent, and Quibi’s success hinges on making this work.” Of course any new platform launch has to offer consumers a unique selling point in comparison to its competitors, both those already in the marketplace and potential launches. With the imminent arrival of Disney Plus and Apple TV+, how does Quibi set itself apart? “The platform is clearly set apart from these services, which are not yet making serious moves in the short-form space,” says Black. “Quibi series will have episodes of 10 minutes or under, and only be available on mobile. Quibi is also likely to be wholly reliant on original content, as there is little to no premium short-form content available for acquisition.” THE PRODUCER’S VIEW That is a pertinent point - Quibi can’t “do a Netflix” and
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buy in its back catalogue, it has to attract content from both Hollywood and smaller producers. Teresa Potocka, CEO and founder of award-winning company Sensethefuture Pictures, explains why content producers are being attracted by the service: “Quibi as a new entrant aims to differentiate itself through a wide variety of genres in a format that allows for a more intimate experience. By working with a company that offers a completely original slate of content and structures its episodes in a new way, not only does Sensethefuture Pictures have the opportunity to innovate and reach new audiences, but also to earn fees consistent with what we make in traditional TV. “We also retain the rights to our intellectual property. Short-form here no longer equals low-budget. Quibi’s brand expenditure isn’t limited to funding the content. On top of that spend, there will also be a significant marketing budget to ensure the audience is there so the incentives are there from the outset for us to create compelling storytelling.” Potocka goes on to point out that unlike Disney Plus, Quibi won’t be able to offer viewers any tent-pole brands. “That means Quibi will need to build its audience. Short films have recently enjoyed a renaissance online so if the Quibi audience is positively primed, the service will have considerable influence on how the marketing message is received across territories.” “Quibi is coming to market with a key disadvantage in not being a recognisable brand name like Apple or Disney,” agrees Black. “Creating originals with celebrity names attached is a way of attracting subscribers and growing brand recognition early on.” Potocka also points out that Quibi has an advantage in that it is being deliberately targeted at those who watch content via their mobile phone. “Since existing streaming services have increased the amount of content featured which is optimised for mobile, this has resulted in growth in overseas markets. Quibi could well replace short-form