Quibi, The $2.4B Streaming App Nobody Got Around To Watching, Is Shutting Down After 6 Months


Ahh, remember Quibi? The short-lived, uber-expensive streaming service that absolutely swore vertical-orientated content was the way of the future?

Well, she’s done.

After less than a year in operation (launching in April this year) Quibi is hanging up the boots after failing to attract a solid audience.

According to the Wall Street Journal, sources close to the company reported that Quibi founder Jeffrey Katzenberg informed investors of the impending closure.

The company reportedly tried to sell off the platform to investors, but unfortunately had no success, forcing them to give up on their dreams of mobile-centric streaming content.

There are a plethora of issues that led up to the platform’s demise. For starters, they launched at the start of a global pandemic, when most of us weren’t commuting to work and therefore preferred to just watch Netflix/Stan/Disney+/YouTube on our TVs, which is unfortunately out of their control. But also, it’s worth noting that although I personally *love* Nicole Richie’s ‘conscious trap’ alter-ego Nikki Fre$h and the idea of Joe Jonas having a talk show, their catalogue didn’t really cater to the masses. (RIP Nikki Fre$h).

But, in saying that, some of the shows actually had some pretty good concepts, and could potentially be sold off to other streaming platforms (*prays for a Netflix special on Nikki Fre$h). However, it’s unclear if any of the shows will find a new home on other networks, or if they’ll all be going down with the ship.

If you never dipped your toe in the Quibi pond, this news probably just means you won’t have your TikTok feed overrun with Quibi ads anymore. Honestly, the fact that I won’t hear Nicole Richie’s rapping to break up my otherwise dumb bitch TikTok feed makes me incredibly sad.

RIP Quibi, gone and probably soon to be forgotten.

PEDESTRIAN.TV has reached out to Quibi for additional comments but is yet to hear back.