Mark Suster

Why (and who) she thinks can pay for premium Quibi content material

In a world of Netflix, Hulu, HBO, and YouTube, why would a buyer select to pay the $4.99 month-to-month subscription (or $8 advert free) for Quibi? Meg shared the angle that Quibi is focusing on a distinct type of viewing expertise (mobile-only video, which she say is just 10% of the viewing for different streaming companies and nearly none throughout the day) and a distinct type of content material than what exists at present.

“We’d argue that our films are world-class films, simply designed solely for cellular.”

She additionally spoke about how they’ve seen premium content material creators reply creatively to Quibi’s distinctive portrait — panorama format, and the way they’re banking on what might be seen as a constraint to essentially produce sudden, revolutionary content material. For instance, she spoke about how Steven Spielberg wished to create a horror-based program that viewers might solely watch at midnight. To time-restrict content material requires a completely new platform, one which solely Quibi can assist so far.

How Quibi is a expertise platform first after which a content material platform

Being an investor in LA and having seen a decade’s price of video startup concepts, one of many causes many video startups fail is as a result of they suppose they will simply distribute content material on-line the way in which they’ve carried out it offline for 100 years, with out the innovation of expertise. (And naturally there are the Silicon Valley video startups who suppose it’s all in regards to the tech and ignore the storytelling.)

  • Personalization — to offer a curated feed new every day, they’re not simply tagging each piece of content material, they’re metatagging every body of content material to get viewers what they need, sooner
  • Interactivity — by designing or cellular consumption, they will ultimately make the most of each facet of the cellphone together with the digicam, the touchscreen, the gyroscope, and so forth.

“There’s a protracted historical past in Los Angeles and Hollywood of expertise enabling new methods to inform tales … We’ve created a extremely fascinating expertise platform that has impressed creators to do issues in a totally totally different approach. ”

She additionally spoke in regards to the significance of 5G and why they suppose Quibi can be an ideal use case for the expertise.

Why they raised a lot preliminary funding

As I stated within the interview, we at Upfront come from the land of small first rounds of financing. However Quibi has raised $1.4 billion and counting, earlier than they’ve ever launched a bit of content material (I jokingly known as it a $1 billion seed spherical). Why?

“We determined that to present ourselves an actual combating likelihood to make this work, we needed to elevate sufficient cash to have the ability to create, at launch, a totally immersive expertise.”

April’s launch will give us much more perception into Quibi’s massive wager however I appreciated having the prospect to listen to Meg’s imaginative and prescient for the service. I hope you’ll benefit from the interview as a lot as I did.