A day after Jeffrey Katzenberg and Meg Whitman announced their “clear-eyed” decision to shutter the six-month old star-studded mobile subscription-video platform, Quibi has declared that December 1 will be its “last day of service.”
“Quibi has made the difficult decision to wind down,” said a self-described “end of service announcement” today on the FAQ section of the platform. “We anticipate that the service will end streaming on or about December 1, 2020. We appreciate the support we have received from our customers and want to thank you for giving us an opportunity to entertain you. If you have any questions or need assistance in any way, please contact us at [email protected]”
Quibi's Jeffrey Katzenberg & Meg Whitman Detail 'Clear-Eyed' Decision To Shut It Down
Moving far faster than the several months wind down that had been bandied about on Wednesday and with approximately 200 employees of Quibi now heading towards unemployment, today’s end of service update leaves the app’s 500,000 or so sign-ups soon in the dark. It also looks to be the final curtain on series like Emmy winner #FreeRayshawn, Liam Hemsworth starrer Most Dangerous Game, Dummy with Anna Kendrick and the remake of The Fugitive with Kiefer Sutherland – at least if Katzenberg and Whitman can’t find any buyers.
“At this time we do not know if the Quibi content will be available anywhere after our last day of service,” the end of service announcement adds with some degree of ambiguity. “We recommend following #Quibi on Twitter for any news regarding content.”
Having raised about $1.7 billion from the major studios and Wall Street investment firms, Quibi launched in April to great fanfare with lots of big names and a 90-day free trial. Nonetheless, with the coronavirus pandemic but one factor taking the wind out of the sails of Quibi’s short form entertainment for viewers on the go, the app soon tumbled down the most download list and sign-ups remained slim.
After weeks of speculation and with no clear path to success in sight, Katzenberg and Whitman on October 22 faced up to hard facts. “We started with the idea to create the next generation of storytelling and because of you, we were able to create and deliver the best version of what we imagined Quibi to be,” the founder and CEO said in a letter yesterday to staff, investors and others. “So it is with an incredibly heavy heart that today we are announcing that we are winding down the business and looking to sell its content and technology assets.”
Winding down just became shut off.