Quibi advertisers want discounts on slow start
May 27, 2020
Ten bluechip charter advertisers are looking for revised deals on the $150 million (€136.2m) they have committed to Quibi.
The clients want revision after a disappointing launch and the steep recessionary turn of the global economy, according to the WSJ.
Quibi and mobile apps have been downloaded around 4.2 million times since launch on April 6th, and 1.5 million signed up for the service through the first-three-months-free promotion that was offered. Quibi was targeting seven million first-year signups.
The startup is backed by $1.75 billion in VC funding and had launch sponsors including PepsiCo, Walmart, Yum Brands, Anheuser Bush InBev and Taco Bell.
Content partners include ESPN, WWE, Rotten Tomatoes, TMZ, Fandango, BBC News and The Weather Channel.