INTRODUCTION
Quibi referred to as "quick bites", is an over-the-top American short-form streaming platform. It generates content for viewing only on mobile devices. It was founded in August 2018, in Los Angeles, as New TV by Jeffrey Katzenberg. Quibi company is led by Meg Whitman who is its CEO. Quibi is a subscription-based streaming platform. It is designed to deliver short-form scripted and unscripted content to cell phones. The Quibi show's episodes will run roughly seven to ten minutes in size. Over 5 million users had downloaded the Quibi app, as of early July. And out of those, only around 1.5 million users have registered to use it further. According to media reports, investors include Warner Bros, NBC Universal, Disney, BBC Studios, Lionsgate, and MGM.
THE PROBLEM
The founder of Quibi, Jeffrey Katzenberg has admitted that this video service’s (i.e) short video services launch has not gone the way he had dreamed. Things didn’t exactly go according to plan for Quibi because people just didn't seem to be very interested.
Here are some reasons for the struggle of Quibi:
----> Quibi was heavily criticized after users discovered that they were not able to take screenshots of the shows, they were watching to post them on social media.
----> The founders of this video platform pointed the finger at covid-19. But from the beginning itself, Quibi was doomed to fail with mediocre content and a poor user experience.
----> Another issue is that people can’t cast content on their smart TVs if they want to watch it on the big screen. While its founders have stood firm in their belief in Quibi being a mobile-only platform.
---->Quibi is served only in areas such as United States, Canada. Whereas it's limited in the United Kingdom, Australia, and Germany. But its competitor Netflix is served Worldwide (excluding mainland China, Syria, North Korea, and Crimea).
THE SOLUTION
·
Quibi application is
available only for mobile devices and people cannot enjoy the shows and films
when they are planning for a night stay or in a mood to spend some time
together with your friends and family, hence the first work of Quibi developers
is to allow users to cast the content on their TVs, their desktops, or their
laptops.
·
The Quibi developers
should also allow users to take screenshots of the shows the users watch so
that they can post it on social media.
INNOVATION
- Quibi can increase its trial period. Currently, they are providing a three-month free trial. The company may increase it into a four-month free trial.
- Try to decrease the subscription price. Currently, it is $4.99 with ads and $7.99 without ads.
- Currently, Quibi is not offering an annual subscription. Hence, the company should plan to provide annual subscriptions with discounts.
- The content offered on the app was also slammed as being of low quality; hence the company can increase the quality.
- As there are a lot of problems in the app itself, the company should first develop the app.
- The company should allow the users to cast the content on their TV's, their desktops, or on their laptops.
- The company should also allow the users to take screenshots of the shows they are watching.
- Quibi is served only in areas such as United States, Canada, whereas it's limited in the United Kingdom, Australia and Germany. Hence, the company should plan to serve worldwide.
Hope the company will implement these strategies to accomplish the goals.
Happy learning
Thank you for reading :)
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