Well yes but no. High budget content is like going there and interviewing people uknow instead of just taking clips... coldfusion doesnt actually go there. It is still very high quality but its not high budget production.
@@partyoverallt Yes I do agree, and that's a good comparison! And fun fact the "Innovators Dilemma" will be used in an upcoming video about Apple's M1 chip. Cheers for watching!
Jeffreys expression during that final call is enough to tell you that this wasn't a wework type scam, he seems to have genuinely wanted this to do well, and returning the investment when they knew it wasn't going to work was a class act.
@@seabreeze667 From a consumer's point of view, yes it's a shared office provider. The problem is with how it is marketed to investors, and the accountability of the founder. At least that's what I understand from watching YT videos about it. ColdFusion has 2 vids on this topic, give it a watch :)
Jeffrey is a legend in the movie and arts industry. Hell half my childhood were directly influenced by him given the time that I grew up. He's not a scammer, just happened to have a bad idea that didn't work out. You can't be successful if you don't take risks. This happened to be one of the risks that didn't pay off.
Saw their ads everywhere, but they had some of the most unappealing content it’s crazy. Knew it wouldn’t last, but didn’t know it would close as quick as it did.
@@AlphaGeekgirl who does this appeal too teenagers? None of us are watching this. Boomers no it's not long enough to entertain them. Millennials maybe but obviously not because there shutting down
@@gmxealot6236 Im sure you are aware that Im not referring to Vito here, but anyways, the guy I replied to tried to imitate ColdFusion and did terribly bad
“Yes! But what IF, you could only watch it on your phone! And even if you were at home, relaxing, you still couldn’t watch on your TV or iPad, and watching on your phone is the only option! Genius, right?! These Zoomers just love their phones! And they also love…. *checks notes*… Reese Witherspoon? We paid 6 million to Reese Witherspoon to narrate something, cause we have a feeling that Gen-Z are going to love washed up Rom-Com stars from the 90s enough to pay monthly for it, instead of CZcams, which they already use and like.”
They are a startup they are supposed to pivot until they run out of runway. As long as they are not lying or corrupt. The investors know the risks, they not people trying to build up for retirement. This guy did them a disservice by being a coward and not fully exploring the concept.
@@mphiwentuli730 Nah you really think the investors didn't pressure the founders to shut down? When the investors saw that the numbers were waaay below the projected, many of them def wanted to back out. If the investors really wanted them to keep going, they could've easily pressured the founders to keep going.
@@alf.2929 Dude, the software industry is not one where you "steal" tech, engineers flow between companies bringing architectures with them. Hell, companies will go to conferences and proudly explain, in detail, exactly how they make their site work.
Aw that's unfair. I have my own netflix account I'll have you know! ... I just so happen to share it with my parents and sister. My sister shares her Disney+/Hulu with me and my parents. And my parents share their HBOmax with me and my sister.
TBH Free trials are not enticing. If you gonna go the Free route, make it FREE. CZcams is FREE with ads. The longer someone watches and becomes addicted to the site, the more a subscription to remove ads sounds viable, like how CZcams has Premium
I really respect the founders for owning the failure. It was a flop and they didn't try to hide it, they just closed up shop and pivoted. That's a pro move to fail fast and pivot.
@@giths19 millenials aren't blamed. It's millenials who keep blaming everybody for their failures. Millenials should Infact learn from this to own your failure. Not blame one group or other. You failed because you did not Factor in every factor.
Those people suck. I wanted to see this thrive on its own. Much like all those other streaming apps no one’s ever heard of yet are still around for some reason.
I think it's not so much as that as when those people have all the resources & tools ($2 billion and more) but still fall flat on their face. When other start ups have far less but fail I think we can have more sympathies for those who tried but lack funds/time.
I’d 100% agree with you, if they hadn’t annoyed the absolute fuck out of me with their ads. I’d get them almost every single video I watched and it’d always be “*insert random thing* in a quibi”
Exactly. Its easy to say "why didn't they think about this and this and that" But we forget that it is the failures of such guys that gives us a guideline of what to do or not do. If you want to change the way you see then, think of yourself as a soon-to-be entrepreneur. You'll be less harsh towards people who are brave enough to put themselves out there. Of course, what coldfusion is doing is educational and eye-opening I salute Jeff
Acknowledging that the C-suite class in USA is largely composed of people with their soul rotted out, Katzenberg at least does the semi-right thing here. Still not down with him telling his laid off employees to listen to a childrens' song to cheer themselves up though, has some real "let them eat cake" vibes. Still though, way better than what other CEOs have done. Katzenberg might be one of the less rotten CEOs but he is still a CEO
I've literally never even heard of this. I assumed it was back in like 2012 or whatever, but it launched in April *this year* and I haven't heard of it? Now that's an impressive marketing strategy
Yet funny how big shots in shark tank refuse to listen to the argument about taking a small percent of a large market. but then other big shots in business do this all the damn time.
Real entrepreneurs know never to use that. I did try that angle, but soon learnt that’s not how you pitch it. I did raise 1 million when I figured out how to pitch my idea. 🤯🤯🤯🤯🤯🤯
I remember some of these ads saying things like "oh, it's just a Quibi" - I thought.... what the hell is a Quibi? A new measurement of sorts? The product was never explained well. Even when it was we already had Netflix, Hulu, HBO Max, etc. I'm glad this video was made in a relevant and timely manner. Awesome video once again Dagogo!
The only ad I remember seeing was of two pilots saying they were going to delay the landing of the plane for another round of Quibi with no explanation of what it was. I thought it was a quiz app or something.
It took me a moment as well to catch on as to what Quibi was and when I did, I disliked the platform simply because they tried to make it a phrase, "just one more Quibi/think I got time for one more Quibi". Just felt too try-hard. And as said, most of us already have a lot of streaming services. I toggle Hulu, Funimation Now, VRV, and Amazon Prime with my mom paying for Netflix for our two households. I really don't want to add another service, especially one who's gimmick is shorter content.
I feel like if Katzenberg had only mentioned that he helped create Shrek, that'd he'd get all the Millennials and Gen Z people he wanted to download Quibi
Whitman and Katzenberg are two exceptional executives with outstanding skills in running a business. What the Quibi story shows, in my opinion is that starting a business is a totally different beast than running an existing business. A company founder possesses a different set of skills than a manager. This appears to be overlooked by many managers who decide to start a business. Does this make sense?
While I agree with your logic, I think your argument is completely off base in this example. Quibi, to me at least, seemed like a gimmick/fad, like the fidget spinners all those years ago. It seemed weird to me and the ads made it seem like there was an inside joke that I wasnt apart of. I never looked into the company as a result, but if I did i definitely would never purchase a subscription. It is essentially cable for mobile, not netflix like the company tried to push. If I am paying money towards a monthly subscription that they have 0 overhead for adding me into the network, I expect quality as the quantity doesn't matter in this instance. That means, I do not want to have to see any ads at all. If i paid $5 a month to see ADS, and watch TV shows that have a long, boring, drawn-out sequence to them, I have absolutely no desire to subscribe to that service. Hence why youtube is dominating the market. As is tik tok, IG, snap and others where the content is varied, you dont need prior knowledge in most cases and you can consume it easily. This is what i believe led to the downfall of quibi. Having to found a company rather than run an existing company may have something to do with it, i just think they were fighting an uphill battle from the getgo.
Totally. Most of the really successful media apps we use had been around for a while before they hit mainstream. Yea I watch over an hour of CZcams a day, but CZcams has been around for 10 years before I used it regularly. Facebook had been around for 5 years. Netflix.. well it was over a year in my country, but it had been around elsewhere for a while. I’d love to know how long TikTok has been around for? This past year-18 months feels like the time it’s hit it’s stride. Aside from having “managers” not “founders” in charge, I’d say shutting it down after 6 months is how it’s shooting itself in the foot. But it started so big, and can’t recoup its losses. Instagram didn’t start with nearly $2B in capital 😝
It's not just your opinion, it's proven science. If you want to find out more, check out Professor Saras Sarasvathy from the Wharton School of Business(I think) and her work on effectuation. I studied it in business school
@@quasarsavage you get 20 minutes of content and no ads. cable somehow manages to swindle you out of 1/3 of your time watching a 20 minute show over a 30 minute time span. You pay assloads of money for it too. It is the biggest scam this side of the central banking system.
I think we are forgetting that cable was originally the premium TV and didn't have commercials. Commercials were only for free TV broadcasted over the air.
I think the idea was to give a cheaper version but still make a profit. I mean the alternative was 8$ for quibi or 0$ to not watch quibi. Like Hulu. Hulu with ads is one of the most popular streaming services up there with netflix and disney+. The pricing wasn't what made them fail
@@milkmannoodles3783 My guy who wants to pay money for something to have ads, this is why nobody watches cable tv at all anymore. Because you paid however much a month and every 5 minutes they blast advertisements in your face
@@milkmannoodles3783 its not dead in Australia, well our version of cable is foxtel which can cost over $100 a month, if you can afford it its pretty good, it features shows from american netflix and such (australian netflix only has about 10% of americas). there are ads but they are very minimal and usually on the biggest channels
To me, the biggest miscalculation quibi did was thinking that the audience would like to have serious quality entertainment while commuting. Speaking for myself only, I never watch a show I am serious about when commuting. My mind is on the announcements, the current train stop, how much time left till my class starts, did I do the assignment, etc. Therefore, I am either listening to only music or youtube video just as white noise. I am not at all paying much attention. Things I am really into, I would rather like to wait till I get home, and watch them in peace on a bigger screen like iPad or my laptop. Therefore, it never made any sense to me to pay any money for serious entertainment that is mobile-only.
i half agree with you, i do things on my commute. but usually things that you can glance away to see if that's your bus or your stop easily, like comics or books. videos... yeah you can pause, but constantly pausing checking things around you is not a good way to watch a video
Yeah, most people I know and myself will listen to music on the commute or watch anything short and done. My personal preference is I want to watch high encouraging contents like Game of Throne or even long movies in the comfort of my home, on my extended free time. I don't want to be interrupted when I'm in the middle of watching something. They forgot to take into account that media contents especially movie or series create emotions and feeling seeding into their audience and grow over the duration of watch time. By cutting it to 15 minutes, i don't think these contents have the same impact as contents you have 3 hours to experience the message of the media. And that's something that I really don't like, being restricted to 15 minutes. You could easily do that on Netflix if you need to.
This is it exactly. Even if it was free, and covid never happened, it still would have failed. Its like they never did any market research before starting this company.
It is small, but a lot of companies really only target that demographic and make it work. That demographic just wasn't interested in what they were offering
I wonder if they took into account that the majority of the US still actually drives to work. Transit isn’t available on a large enough scale to make this really catch on among commuters.
@@Moz31 I don't know if they marketed in europe, but atleast in Finland where I live, but I have not heard a thing. They probably could have easily got some users from here and other nordic countries, as the public transport system is great and the pandemic was "on pause" in the summer. (As daily cases were less than 10 most healthy people didn't care). Probably wouldn't have cost much to slap some ads in the buses.
@@ninjal7588 I live in Europe, haven't heard a single thing either. On the other hand, I see Netflix ads regularly on CZcams despite Netflix being as popular as it is. This sure was one of their biggest mistakes.
@@Moz31 indeed, I live in Germany and this video is the very first time that I have actually heard about Quibi (which is not a good name tbh). It seems like they only targeted the US initially. And hearing about the concept behind Quibi my immediate reaction is: -too specific target audience -too much established competition -too much reliance on the celebrity factor
Great and ethical entrepreneurs unlike the others you mentioned. There is a lesson of humility, honesty and integrity that is remarkable. Great content as usual
The quality of this channel isn't mentioned enough in the comment section imo. Seriously THE best channel on CZcams for this kind of content. Respect man... respect!
It is quite easy. Celebrities aren't what they used to be. Many people, including myself, have stopped seeing them as THE people. I stopped watching cable TV in 2010, and recently (just over a month back) decided to stop using social media (Facebook, Twitter, and Instagram) amd I've seen a positive change in my mental, and emotional state. Most issues come with idolizing these people to the point that they now think it is their place to tell us how we should live, who we should vote for, occasionally insult us while still demanding support. Many people hate that, and the age of the celebrity has come and gone. Independent creators are what's popping now.
Really wish i can follow your footsteps and stop using social media, it brings nothing but despair and consumes much more time than its worth. How did you do it? Just cold turkey?
I didn't even know they existed until like 2 months ago when suddenly I started getting ads left, right & centre about them. Same with binge actually, very weird.
It may be, but it's worth considering that products for young people have always been mostly produced by companies run by older people. It's only necessary to be older people who can understand the target market. I am tempted by your idea as well, but it may have been more of, "I work in the media, I want a slice of this New Media pie, but the market is already crowded so I need a defining gimmick" and then they came up with a useless gimmick. Or to be more fair, a gimmick that turned out to be useless.
I have to admit. I signed up for a quibi subscription without even checking the content. They had an absolutely killer feature. The videos can play in portrait or landscape with no black bars. Why CZcams or Netflix doesn't do this is beyond me.
After scrolling through these many comments, I found this one. I dunno what Quibi was before watching this video. But I noticed that slick portrait to landscape orientation in this video.
Netflix and CZcams don't do this because the only way to allow this is to crop the footage. Gaining a black bar is better than losing part of the shot.
I think they should have tested the model first with one show. Who watches story driven Drama on a bus stop? In terms of Video games, people play Candy crush and not god of war while waiting for a bus.
I would also say try premium content. HBO was a place for stars to go to let their hair down. And they created their own stars. Eddie Murphy special, Robin Williams ..... could do stuff they couldn't on syndicated tv or even in movies and broaden then own audience at the same time.
Nobody will ever be as big as Elvis was. No matter where in the world you went, everyone knew who he was, what he did, and could hum at least one of his songs. While there are tools to reach ever larger audiences, nobody will ever have that 100% market saturation ever again. As time goes on, more and more 'nobodies' will be able to grow ever larger audiences, but forever be smaller amounts of the overall pie. The idea of traditional celebrities that everyone knows is of an era that is quickly passing by.
Hah same here, i didnt realy listen that well to this video, but when he mention Quibi in the same sentence as Netflix, i was like Wooow. So this is not like 2004? haha Who would even came up with this shitt haha.
Doesn't even matter when over 90% of the people who tried the free trial left anyway. This was a terrible idea and no amount of marketing was going to save it.
I ignored quibi since it seemed like a fad when it first launched. He would have been better off posting the first few episodes free then out the finales behind a paywall
I think the timing was just poor. In a pre-COVID world it could have really been successful. Now we all sit at home watching entire seasons all the time.
I find it ironic that in the past 10 years, most people have stopped perceiving celebrities as genuine, while I have recently stopped perceiving social media influencers as genuine.
Same. I in my twenties and find the concept truly appealing. I am in my twenties and would rather watch something like this than CZcams (edit: ..on a daily commute).
Same. Maybe it's because I'm out of touch but I didn't hear about Quibi until they were mid-implosion. I think the problem besides Quibi besides lackluster marketing (I barely heard of them) is that streaming is already becoming too fragmented and if anyone will be streaming something on their phone they have CZcams and also "real" streaming services too. Quibi reminds me of Juicero in a way too.
I signed on to quibi. I found some of their content good. Here's the problem as I see it. It was *too easy to binge.* Grab a tablet and watch a series in an hour to 45 minutes. *The free trial allowed most to watch the content they wanted and quit.* That was my plan but I forgot to cancel. So I had a whole month to watch for $5 dollars. The pandemic was in full swing so I watch for about 2 hours a day while preparing and eating breakfast and lunch. Soon I was burning up the content I was interested in. By the month's end there was hardly anything left to keep me subscribing. I to friends about it. Most burned it up during the 7 day free trial. What would I have done differently? To launch a streaming service you need tons of content. Quibi had that but it was easily consumed. To fill in that content *I would have added low cost content.* Invited *successful You tubers to create shows on the cheap* for a large payout than CZcams. Second *cartoons fit the format.* Jeffrey Katzenberg should have added animated features. Since the format was small I would only offer *3 day free trial.* This was also a perfect format to test network shows in small pilots. *Take a sitcom or tv series pilot and edit it down to quibi format size.* Allow the audience to vote on if the show has merit to be a full length show. Add a *2nd tier to show the content regular size for $12.99.* Jeffrey Katzenberg is a brilliant guy and hindsight is 20/20. Sell this content to Netflix for half(500 million) and give your investors 75% of their money back. 🤷♂️
Fantastic content as usual - the short content about celebrities probably clashed too much with social media in which you can still see those celebrities in a more familiar environment
I don’t care About what everyone are saying.. am amaze by the fact that a 70 years old is that in shape and still dreaming about building, creating , taking over the world...an inspiration
Sometimes I wonder why CEOs & other great visionaries are so blinded where a common man could have judged the situation better. May be thats why we have to do enough 'groundlevel' market research. Door to door surveys would have identified this problem early on!
Thank you for the insightful and detailed analysis of the rise and fall of Quibi. I think the biggest thing that they failed to realize was how crowded the marketplace was. People simply don't want another service to have to pay for and pay attention to. I thought Disney was lucky to sneak in, and they had better content and capitalization to allow themselves to do so. They also had the Mandalorian. Apple TV has The Morning Show and Ted Lasso. Quibi didn't have a killer show that people felt that they had to see, despite the general star power across their entire lineup. One must-watch show would've helped them. They never got their foot in the door, and gave people a true reason to go through the effort of signing up for yet another service when there were some many other free options, or ones that they were already paying for.
This is the first time I’d heard about Quibi. Figure out how someone like me can be missed by all the marketing and you’ll find more reasons Quibi failed.
@@potices5245 Not the podcast no. I watch the occasional video and I suspect I’ve seen Quibi mentioned but not enough to register. Also I have CZcams Premium so no ads. Would have to have been either a Facebook friend calling it out or be featured in a video for me to notice. Or my teenager could have told me about it (he didn’t). I watch a LOT of CZcams so it’s hard to go completely under my radar but they managed.
as a millenial. 1. money, make it free. 2. marketing. (i only heard about it when it flopped) 3. creator driven, let other people and influencers create content. (and do free marketing)
Doesn't that just throw the core concept out the window though? It is very quick content with high quality production, so having content that is creator driven for the platform isn't the goal at all
I preordered Quibi so I got it as it dropped. After finishing “Most Dangerous Game” and that small town murder story show, I soon realized that I’ll have a problem finding my next favorite show. I further struggled with selfishly consuming content I couldn’t share.. not even a screenshot was possible on my apple device.
Well it's still one of the most feasible source revenue. I think many content streamer website still have monthly fee, even though most of it using freemium method first. In case you need an example, take a look at netflix
Hearing him talk about “if we just capture 2-3% of that addressable market” and particularly the way he phrases it just makes me think their TAM calculation was WAY off
Yeah he seriously did so much amazing work, it surprises me that he failed so hard at trying Quibi I guess he really didn't understand the full appeal of mobile content and just treated it as mini tv, the shareability of content is so important
What would be nice would actually be if CZcams picked up this and put all the quibi content on the platform. Because I really do think that there's an unexplored market in watching content that is designed to work in both portrait and landscape. CZcams has the users and would be able to test if it worked with the content that quibi has already, if it does seem like users will use this feature, then CZcams would know that they could produce this type of content. If it didn't pan out, then at least they had a better chance of testing the idea.
I remember seeing ads for Quibi a couple of years back. It seemed like an interesting idea but I was like "there's already Netflix and CZcams..." and I don't even have Netflix, just watch CZcams because there is so much quality content like Cold Fusion and its free. Why would I pay 5-7 dollars a month for something I'm honest probably not even going to use? People used to pay hundreds of dollars a month for cable service for information and entertainment and now it's all just free online...what a time to be alive.
People watch short form content like CZcams, Instagram videos and parts of a show on Netflix and that works because it already offers huge libraries from content creators either through their catalogs or through the content from creators on the various platforms. Creating premium short form content just 7 to 10 minutes long doesn't make sense when you can start a show on Netflix or Amazon and finish it later. Plus the space is extremely saturated and having to pay for another subscription for sub par at best content.. I would have not bet it all on premium short form content from expensive traditional media talent rather than less expensive curated independent creators
As I understand Quibi is like Netflix but with shows who have only 10 min episodes. Thats not realy that different from Netflix. There are a lot of shows on Netflix with around 20 min per episode. Why should I watch these short Shows (from Quibi) when I allredy have Netflix, where I just can watch 1/2 an episode. The only thing that brings me (and probably a big part of the consumers) to a new platfrom, is content. Realy good content, series or movies you just want to watch and you cant elsewhere.
@@akuno7294 Yeah but shows on Netflix are storied to be a normal full length show without commercials which are typically 21 to 42 minutes in length. At only 7 to 10 minutes long you have to adapt the show from the more typical and longer story lengths to a more truncated timeline, likely at the sacrifice of content quality. You can Start a show on Neflx and have access to their expansive catalog, watch 10 minutes of a normal show, and finish it later. Also Quibi didn't initially allow you to stream their shows on TV. If people only want to watch a short form content video, they have CZcams and other content creator curated entertainment and social media apps like Instagram and TikTok.
^^^ i think this is the main reason it failed-- not really enough of a market for short content. if you want 7-15 minute videos, there's plenty to watch on youtube. many reviewers also pointed out that quibi's series really just felt like a 70 minute movie unnecessarily cut into 10 parts.
I thought Idea was great just a few suggestions I think would ve helped them a lot 1 ) recruitment fresh talents who were good in their craft ,this would have brought the production price down 2 ) cutting down the profit 3 ) good commercial or more so making it catchy would ve helped them gain traction 4 ) learning more about their target demographic
Big respect to the team for not hiding after failure. That said, I think not offering your product to a bigger audience when its cost would be minimal, will never play in your favor (not offering a TV app, Computer program, web browser...)
I feel like Millennials and Gen Z were telling EVERYONE who would listen that Quibi was dumb and was gonna fail long before it launched. like almost immediately after announcement...
I remember seeing celebrities posting ads on their stories for this app and i literally didn't wanna download it coz i knew their opinions are not genuinely it's like an ad they get paid for
He wasn’t wrong when he said covid was the reason they got derailed… they weren’t given an opportunity to drag on a bit more and learn and adapt since almost immediately their target market was instantly wiped out.
Living in Japan, I've been commuting to work for ages, including at times when other countries were on lockdown. I use my phone everyday to surf, play games and watch videos. I also watch video content on my Android TV. However: - I never heard of this subject until recently. - I never saw the app featured at Google Play, for either my phone or Nvidia Shield TV (presumably, it was region locked). - I don't need to pay 5 dollars a month for LESS content than Netflix or CZcams. - CZcams is free and both CZcams and Netflix can pause AND replay content between devices (so I can start a video on one device and finish watching it on the other). - Lots of CZcams content is specific to my own interests and/or doesn't require me to think too much, unlike "Hollywood" or studio-produced content. In the mornings and evenings, commuting to work, or on my lunch breaks, I'm tired and don't want to concentrate on narratives too much. CZcams is more accessible for me.
John Titor the time traveller was asked what they did for entertainment in the future. He answered “we just watch each other and we entertained ourselves”.......we don’t watch mainstream media as it didn’t really exist anymore. back in the 90s with dial up internet that made NO SENSE! But now, with how things are with you tube...it makes total sense. It really stuck with me back then I couldn’t figure out what he meant. 🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯
To be honest, after seeing the final itnerviews with Jeff Katzenberg towards the end of this video - I have to say hats off to them. Most people, would A) just have kept going and wasted investors money for another year or two and/or B) continued to make excuses. I know they made it sound like he blamed it entirely on the coronavirus, but that final interview that was shown in this video, he does seem to honestly say that their product/market fit wasn't good, somewhere else along the way their idea crashed and burned, and of course the coronavirus meant people weren't on the go anymore. Most high profile startups do not end this smoothly haha
The fact that the Quibi history can be boiled down to a Quibi sized mini-doc is poetic in a way.
It would be a 2 episode mini series
🤣
That’s a great take right there
And production quality is high too 😉
It's ironic:-D
The whole idea was to keep things short. I guess they succeeded.
lol
👏👏👏
🤣 👏👏👏
Ouch
Jusr like valorant eh :/ imo tht is.......
They're wrong, there is high quality content in short form. I'm watching Coldfusion, free high quality content right now
Well yes but no. High budget content is like going there and interviewing people uknow instead of just taking clips... coldfusion doesnt actually go there. It is still very high quality but its not high budget production.
Oh screw you. You should’ve just stopped at that first sentence alone!
@@partyoverallt Yes I do agree, and that's a good comparison! And fun fact the "Innovators Dilemma" will be used in an upcoming video about Apple's M1 chip. Cheers for watching!
@@ColdFusion can you make a video about Nikola Corporation please.
@@ColdFusion waiting for the video already....
Jeffreys expression during that final call is enough to tell you that this wasn't a wework type scam, he seems to have genuinely wanted this to do well, and returning the investment when they knew it wasn't going to work was a class act.
Given Jeffrey's other successes, this must have hurt personally. This is probably the first time something went so wrong.
Why is Wework a scam? Isn't it just a "shared office" concept?
@@seabreeze667 From a consumer's point of view, yes it's a shared office provider. The problem is with how it is marketed to investors, and the accountability of the founder. At least that's what I understand from watching YT videos about it. ColdFusion has 2 vids on this topic, give it a watch :)
Jeffrey is a legend in the movie and arts industry. Hell half my childhood were directly influenced by him given the time that I grew up. He's not a scammer, just happened to have a bad idea that didn't work out.
You can't be successful if you don't take risks. This happened to be one of the risks that didn't pay off.
Saw their ads everywhere, but they had some of the most unappealing content it’s crazy. Knew it wouldn’t last, but didn’t know it would close as quick as it did.
Wow didn't expect to see you guys here I haven't watched your channel in like 4 years
Unappealing, how?
I really thought it was some sort of adult toy from their commercial
@@AlphaGeekgirl who does this appeal too teenagers? None of us are watching this. Boomers no it's not long enough to entertain them. Millennials maybe but obviously not because there shutting down
@@kevinw4267 lol!!!
“Netflix for mobile”
Oh, you mean like that Netflix app I downloaded on my phone some years ago?
Exactly! I can download content from Netflix or CZcams to watch on my phone while going to work. Why the f would I need Quibi???
No, it's like Netflix but you pay for content that's 10 times shorter and you can't enjoy it with other people.
Haha as another comment said, its Boomer level 9000
Exactly - Netflix for mobile is Netflix!
Exactly. I was thinking, Netflix had an app for the mobile long before anyone has even heard of Quibi.
"Hey guys, what if we had Netflix on our phones?"
"Sir, that already exists."
@ColdFusion You got this far with your imitation, at least study the guy's use of language for a better chance of foolery
@@healthya7975 lmfao bro it's a joke not an impression
@@gmxealot6236 Im sure you are aware that Im not referring to Vito here, but anyways, the guy I replied to tried to imitate ColdFusion and did terribly bad
“Yes! But what IF, you could only watch it on your phone! And even if you were at home, relaxing, you still couldn’t watch on your TV or iPad, and watching on your phone is the only option! Genius, right?! These Zoomers just love their phones! And they also love…. *checks notes*… Reese Witherspoon? We paid 6 million to Reese Witherspoon to narrate something, cause we have a feeling that Gen-Z are going to love washed up Rom-Com stars from the 90s enough to pay monthly for it, instead of CZcams, which they already use and like.”
“The honorable thing to do”
Wow, you don’t see that thrown around a lot these days, that’s for sure. Dude goes out the good way.
Not that good or honorable since they allegedly stole the the tech involved in the streaming portrait of landscape seamlessly from another company.
They are a startup they are supposed to pivot until they run out of runway. As long as they are not lying or corrupt. The investors know the risks, they not people trying to build up for retirement. This guy did them a disservice by being a coward and not fully exploring the concept.
@@mphiwentuli730 Nah you really think the investors didn't pressure the founders to shut down? When the investors saw that the numbers were waaay below the projected, many of them def wanted to back out. If the investors really wanted them to keep going, they could've easily pressured the founders to keep going.
@@alf.2929 Dude, the software industry is not one where you "steal" tech, engineers flow between companies bringing architectures with them. Hell, companies will go to conferences and proudly explain, in detail, exactly how they make their site work.
@@mphiwentuli730 Nah lol I'm happy he drained Disney's money fuck megacorporations
"25-30 years old is our core audience"
Most 25-30 year olds i know still use their parents netflix account
Hahaha, yes my kids use my account! And just about everything else I've got!
@@darthorion2002 My kids use my account. They use it more that I do.
Aw that's unfair. I have my own netflix account I'll have you know!
... I just so happen to share it with my parents and sister.
My sister shares her Disney+/Hulu with me and my parents.
And my parents share their HBOmax with me and my sister.
@@Thommy2n that’s not a bad system actually
I'm 38 and still use my dads netflix account 😂
I was offered Quibi for free for 1 year and after 1 week I canceled it.
I was offered the same and never cared to redeem it
TBH Free trials are not enticing. If you gonna go the Free route, make it FREE. CZcams is FREE with ads. The longer someone watches and becomes addicted to the site, the more a subscription to remove ads sounds viable, like how CZcams has Premium
@@divypatel1002 sssshhhhh!
@@galenwolfenden6874 just download CZcams vanced
@@divypatel1002 its not about premium features
I really respect the founders for owning the failure. It was a flop and they didn't try to hide it, they just closed up shop and pivoted. That's a pro move to fail fast and pivot.
Jeff did blame Covid. I'm glad he didn't blame millenials for being cheap.
@@giths19 millenials aren't blamed. It's millenials who keep blaming everybody for their failures. Millenials should Infact learn from this to own your failure. Not blame one group or other. You failed because you did not Factor in every factor.
@@ManishSingh-xo1fb lol
He didn't own up to it
@@adolfocoy7516 except at 11.33 of this very doc where he literally uses the words 'we own'.
People like to see others fail. But I see integrity and honor.
Those people suck. I wanted to see this thrive on its own. Much like all those other streaming apps no one’s ever heard of yet are still around for some reason.
I think it's not so much as that as when those people have all the resources & tools ($2 billion and more) but still fall flat on their face. When other start ups have far less but fail I think we can have more sympathies for those who tried but lack funds/time.
I’d 100% agree with you, if they hadn’t annoyed the absolute fuck out of me with their ads. I’d get them almost every single video I watched and it’d always be “*insert random thing* in a quibi”
I feel bad for Jeff.
Exactly. Its easy to say "why didn't they think about this and this and that"
But we forget that it is the failures of such guys that gives us a guideline of what to do or not do. If you want to change the way you see then, think of yourself as a soon-to-be entrepreneur. You'll be less harsh towards people who are brave enough to put themselves out there.
Of course, what coldfusion is doing is educational and eye-opening
I salute Jeff
The fact that he called phones “a mobile television set” really says it all.
As a millennial I always thought of my cellular device as a mobile record player.
Yeah that line of thinking is sort of like calling a car a horseless carriage
I go with the cliche of it's a computer in your pocket, lol.
Lol
Overly pretentious
Quibi is what Boomers imagine young people want.
“Hey you kids like celebrities, right?”
LMAO
😂🤣🤣😂
"Don't you guys have phones?"
-That guy at Blizzcon
Hey fellow young people
"Kids like celebs, celebs and watching short content on their smartphones....bingo!"
Wow, total respect for Jeff, he owned his mistake, apologized, and gave back the money he had left. all CEO's could learn something from this failure.
Acknowledging that the C-suite class in USA is largely composed of people with their soul rotted out, Katzenberg at least does the semi-right thing here. Still not down with him telling his laid off employees to listen to a childrens' song to cheer themselves up though, has some real "let them eat cake" vibes.
Still though, way better than what other CEOs have done. Katzenberg might be one of the less rotten CEOs but he is still a CEO
I've literally never even heard of this. I assumed it was back in like 2012 or whatever, but it launched in April *this year* and I haven't heard of it? Now that's an impressive marketing strategy
Haha same, it all sounds like a 2005 Tech company who just figuring stuff out. This is the most bonkers idéa ever.
@@top_nigerian_news really? i remember seeing ads up the ass, and my vpn is set in germany where quibi isn’t supported. glad its gone, the ads sucked.
@@fantaslurp yup really but I dont watch ads to be fair
Same here. Should've advertised on mobile platforms
@@srfnsurfer Best advice for them would be to.. you know.. not start a shitty streaming company haha :)
"If we capture 2% of that audience." This sounded like a pitch that would fail in Shark Tank.
The moment I heard that I knew where this was going. ColdFusion wouldnt put that snippet if it succeeded I guess.
Yet funny how big shots in shark tank refuse to listen to the argument about taking a small percent of a large market. but then other big shots in business do this all the damn time.
That's a red flag. When someone uses such a phrase, it usually means they don't know how to acquire users..
@Smelly Revolutionary :) Not at all. Maybe it's a good goal or dream, but not a strategy.
Real entrepreneurs know never to use that. I did try that angle, but soon learnt that’s not how you pitch it. I did raise 1 million when I figured out how to pitch my idea. 🤯🤯🤯🤯🤯🤯
I remember some of these ads saying things like "oh, it's just a Quibi" - I thought.... what the hell is a Quibi? A new measurement of sorts? The product was never explained well. Even when it was we already had Netflix, Hulu, HBO Max, etc. I'm glad this video was made in a relevant and timely manner. Awesome video once again Dagogo!
I felt the same way about the ads. I did a google search of " what unit of measure is a Quibi?"
The only ad I remember seeing was of two pilots saying they were going to delay the landing of the plane for another round of Quibi with no explanation of what it was. I thought it was a quiz app or something.
I appreciated it when someone finally explained to me what those adverts were for. The ads themselves certainly didn't.
It took me a moment as well to catch on as to what Quibi was and when I did, I disliked the platform simply because they tried to make it a phrase, "just one more Quibi/think I got time for one more Quibi". Just felt too try-hard.
And as said, most of us already have a lot of streaming services. I toggle Hulu, Funimation Now, VRV, and Amazon Prime with my mom paying for Netflix for our two households. I really don't want to add another service, especially one who's gimmick is shorter content.
Yeah wtf is were those ads...
I feel like if Katzenberg had only mentioned that he helped create Shrek, that'd he'd get all the Millennials and Gen Z people he wanted to download Quibi
It's like paying for the privilege of watching the trailer instead of getting the whole film.
Whitman and Katzenberg are two exceptional executives with outstanding skills in running a business. What the Quibi story shows, in my opinion is that starting a business is a totally different beast than running an existing business.
A company founder possesses a different set of skills than a manager. This appears to be overlooked by many managers who decide to start a business.
Does this make sense?
While I agree with your logic, I think your argument is completely off base in this example. Quibi, to me at least, seemed like a gimmick/fad, like the fidget spinners all those years ago. It seemed weird to me and the ads made it seem like there was an inside joke that I wasnt apart of. I never looked into the company as a result, but if I did i definitely would never purchase a subscription. It is essentially cable for mobile, not netflix like the company tried to push. If I am paying money towards a monthly subscription that they have 0 overhead for adding me into the network, I expect quality as the quantity doesn't matter in this instance. That means, I do not want to have to see any ads at all. If i paid $5 a month to see ADS, and watch TV shows that have a long, boring, drawn-out sequence to them, I have absolutely no desire to subscribe to that service. Hence why youtube is dominating the market. As is tik tok, IG, snap and others where the content is varied, you dont need prior knowledge in most cases and you can consume it easily.
This is what i believe led to the downfall of quibi. Having to found a company rather than run an existing company may have something to do with it, i just think they were fighting an uphill battle from the getgo.
Totally. Most of the really successful media apps we use had been around for a while before they hit mainstream.
Yea I watch over an hour of CZcams a day, but CZcams has been around for 10 years before I used it regularly. Facebook had been around for 5 years. Netflix.. well it was over a year in my country, but it had been around elsewhere for a while. I’d love to know how long TikTok has been around for? This past year-18 months feels like the time it’s hit it’s stride.
Aside from having “managers” not “founders” in charge, I’d say shutting it down after 6 months is how it’s shooting itself in the foot.
But it started so big, and can’t recoup its losses. Instagram didn’t start with nearly $2B in capital 😝
Yes!
@@davidthosome623 Flix fidget spinner 2020...Wait maybe they shoulda called it 'fidget flix'
It's not just your opinion, it's proven science. If you want to find out more, check out Professor Saras Sarasvathy from the Wharton School of Business(I think) and her work on effectuation. I studied it in business school
$60 per year and you'll still see ads?! Of course this won't be successful! You don't need a genius for that!
It's amazing that people paid for cable 10 years ago
Fr like it's a fuckin rip off 🤣🤣🤣🤣
Well I spend 204 usd per yr on 4k netflix... so yeah.... (16.99 per month)
@@quasarsavage you get 20 minutes of content and no ads. cable somehow manages to swindle you out of 1/3 of your time watching a 20 minute show over a 30 minute time span. You pay assloads of money for it too. It is the biggest scam this side of the central banking system.
I think we are forgetting that cable was originally the premium TV and didn't have commercials. Commercials were only for free TV broadcasted over the air.
5$ per month (ad supported), 8$ per month (ad free)... aaah that great pleasure to see adds even when you pay ^^'
whoever they set up this pay structure is the dumbest mofo alive and the marketing team that aired it and said sounds like a brilliant plan
I think the idea was to give a cheaper version but still make a profit. I mean the alternative was 8$ for quibi or 0$ to not watch quibi. Like Hulu. Hulu with ads is one of the most popular streaming services up there with netflix and disney+. The pricing wasn't what made them fail
@@milkmannoodles3783 My guy who wants to pay money for something to have ads, this is why nobody watches cable tv at all anymore. Because you paid however much a month and every 5 minutes they blast advertisements in your face
@@alexs06347 Cable is dead yes. Because it was over 100 dollars a month. But Hulu with ads is still one of the most popular options for streaming.
@@milkmannoodles3783 its not dead in Australia, well our version of cable is foxtel which can cost over $100 a month, if you can afford it its pretty good, it features shows from american netflix and such (australian netflix only has about 10% of americas). there are ads but they are very minimal and usually on the biggest channels
I never heard of Quibi before watching this video.
Yeah, same here. And, I know that no one even heard of it, among all my acquaintances. It's like they only tried to capture the American markets.
I saw one Ad for it last year on YT. Instantly forgot about it.
The fact that I'm watching this on my commute, distroys the business case.
You know a company has had it rough when you don't even hear its name until someone is breaking down a post-mortem on it a few months later.
To me, the biggest miscalculation quibi did was thinking that the audience would like to have serious quality entertainment while commuting. Speaking for myself only, I never watch a show I am serious about when commuting. My mind is on the announcements, the current train stop, how much time left till my class starts, did I do the assignment, etc. Therefore, I am either listening to only music or youtube video just as white noise. I am not at all paying much attention. Things I am really into, I would rather like to wait till I get home, and watch them in peace on a bigger screen like iPad or my laptop. Therefore, it never made any sense to me to pay any money for serious entertainment that is mobile-only.
i half agree with you, i do things on my commute.
but usually things that you can glance away to see if that's your bus or your stop easily, like comics or books.
videos... yeah you can pause, but constantly pausing checking things around you is not a good way to watch a video
Agreed 100%. You put it in such a Perfect way
Yeah, most people I know and myself will listen to music on the commute or watch anything short and done. My personal preference is I want to watch high encouraging contents like Game of Throne or even long movies in the comfort of my home, on my extended free time. I don't want to be interrupted when I'm in the middle of watching something. They forgot to take into account that media contents especially movie or series create emotions and feeling seeding into their audience and grow over the duration of watch time. By cutting it to 15 minutes, i don't think these contents have the same impact as contents you have 3 hours to experience the message of the media. And that's something that I really don't like, being restricted to 15 minutes. You could easily do that on Netflix if you need to.
This is it exactly. Even if it was free, and covid never happened, it still would have failed. Its like they never did any market research before starting this company.
The name is ¨careless content¨ you can pass it at any moment without worries ;)
Quibi in a nutshell:
CZcams but not
Netflix but not
I think you're spot on there
Agbahizzal
cats en berg (caTS IN BERG) (CATSIN BERG) (CATS IN ICE BERG) (i
It was basically TikTok meets Netflix
@@shivam-aggarwal tak tok net filx
YouFlixn't? NetTuben't?
"Our target audience is 25 to 30" so we're really not gonna talk about how small that range is?
Imagine a clothing shop or a restaurant coming out with something like that....
I'm pretty sure a majority of Americans are around that age range at the moment.
@@OnettBoyXD majority of americans? are you sure?
It is small, but a lot of companies really only target that demographic and make it work. That demographic just wasn't interested in what they were offering
@@lw3646 Forever 21, Primark, etc
i love how self aware they were to give up when they could see that it wasn't going well
@ColdFusion are you spamming me 😅
Jk, that sounds boss (who says boss)
I wonder if they took into account that the majority of the US still actually drives to work. Transit isn’t available on a large enough scale to make this really catch on among commuters.
I wonder if you took into account the world doesn't revolve around US.
@@sampadmohanty8573 the service was most likely targeted at the US audience
@@Moz31 I don't know if they marketed in europe, but atleast in Finland where I live, but I have not heard a thing. They probably could have easily got some users from here and other nordic countries, as the public transport system is great and the pandemic was "on pause" in the summer. (As daily cases were less than 10 most healthy people didn't care). Probably wouldn't have cost much to slap some ads in the buses.
@@ninjal7588 I live in Europe, haven't heard a single thing either. On the other hand, I see Netflix ads regularly on CZcams despite Netflix being as popular as it is. This sure was one of their biggest mistakes.
@@Moz31 indeed, I live in Germany and this video is the very first time that I have actually heard about Quibi (which is not a good name tbh). It seems like they only targeted the US initially. And hearing about the concept behind Quibi my immediate reaction is:
-too specific target audience
-too much established competition
-too much reliance on the celebrity factor
Should’ve got good actors on the platform instead of celebrities lol
Good catch, lol!
Why is there a white van in the comment section
true
All of them were good actors man
No, reality tv of youtubers that just broke through
Rick Sanchez: It's just CZcams Premium with extra steps
And so it sucks
Great and ethical entrepreneurs unlike the others you mentioned. There is a lesson of humility, honesty and integrity that is remarkable.
Great content as usual
Jeffrey katzenberg looks so sad at the end when he’s talking about why they shut it down.
This is an exact example of creating a problem out of nowhere and then trying to solve it.
The quality of this channel isn't mentioned enough in the comment section imo.
Seriously THE best channel on CZcams for this kind of content. Respect man... respect!
It is quite easy. Celebrities aren't what they used to be. Many people, including myself, have stopped seeing them as THE people. I stopped watching cable TV in 2010, and recently (just over a month back) decided to stop using social media (Facebook, Twitter, and Instagram) amd I've seen a positive change in my mental, and emotional state. Most issues come with idolizing these people to the point that they now think it is their place to tell us how we should live, who we should vote for, occasionally insult us while still demanding support.
Many people hate that, and the age of the celebrity has come and gone. Independent creators are what's popping now.
good for your person
Hey, I'm struggling to quit social media. Do you have any resources for that?
Parallel to that perception change is how people stopped watching mainstream news, perceiving it as fake and misinformation.
Really wish i can follow your footsteps and stop using social media, it brings nothing but despair and consumes much more time than its worth. How did you do it? Just cold turkey?
reddit
Quibi's failure was really the consumer giving a big middle finger to celebrities.
Please do more videos on failures, it teaches more
I didn't even know they existed until like 2 months ago when suddenly I started getting ads left, right & centre about them. Same with binge actually, very weird.
Yeah the ads were pretty weird.
Never knew they exist
I'd always skip them idk why I didn't like their ads
yeah, same here - thier marketing department was so bad.
The cries of boomer and gen x desperation
04:00 "We will have one of the great 'Blockbuster' business of all time" ... woefully prophetic analogy
😆🤣
I feel like Quibi is the boomer idea of what millennials want
facts.
A doomer ideia you say
I see he figured out a way to scam money fast and just bk out asap with the money in the end bc no one was making money like b4 pandemic.
So that explained why my grandparent always give me weird gift, but i still appreciate it. :- )
It may be, but it's worth considering that products for young people have always been mostly produced by companies run by older people. It's only necessary to be older people who can understand the target market. I am tempted by your idea as well, but it may have been more of, "I work in the media, I want a slice of this New Media pie, but the market is already crowded so I need a defining gimmick" and then they came up with a useless gimmick. Or to be more fair, a gimmick that turned out to be useless.
I have to admit. I signed up for a quibi subscription without even checking the content. They had an absolutely killer feature. The videos can play in portrait or landscape with no black bars. Why CZcams or Netflix doesn't do this is beyond me.
After scrolling through these many comments, I found this one. I dunno what Quibi was before watching this video. But I noticed that slick portrait to landscape orientation in this video.
Netflix and CZcams don't do this because the only way to allow this is to crop the footage. Gaining a black bar is better than losing part of the shot.
why do i found myself shedding a tear for Quibi? 😢
They should have a freemium part like did Spotify and certainly not invest so much so quickly
And the price point 5$ with ads !! No way
Noticed this too like you are paying $5/month to see ads? This is boomer level 9000
I think they should have tested the model first with one show. Who watches story driven Drama on a bus stop?
In terms of Video games, people play Candy crush and not god of war while waiting for a bus.
Yeah. People don’t even want to pay AppleTV+ (which have much higher quality content) for that amount of money.
Lmao Hulu charges $10 with ads
I would also say try premium content. HBO was a place for stars to go to let their hair down. And they created their own stars. Eddie Murphy special, Robin Williams ..... could do stuff they couldn't on syndicated tv or even in movies and broaden then own audience at the same time.
“Celebrities” is a falling stock.
TBH knowing Chrissy Teigen was involved put me off it. She's SO annoying lol
Nobody will ever be as big as Elvis was. No matter where in the world you went, everyone knew who he was, what he did, and could hum at least one of his songs. While there are tools to reach ever larger audiences, nobody will ever have that 100% market saturation ever again. As time goes on, more and more 'nobodies' will be able to grow ever larger audiences, but forever be smaller amounts of the overall pie.
The idea of traditional celebrities that everyone knows is of an era that is quickly passing by.
I didn't get it.
@@CaedenV Michael Jackson?
Thankfully.
I’m watching this on my phone and didn’t pay a single cent for it... and it’s arguably more entertaining than anything Quibi could ever provide me.
True, but keep in mind the old adage: we're not customers, we're the product. Products don't pay for being sold...
still not sure what the content was? Like movies and quizshows?
I agree!!!
His “you are watching coldfusion tv” intro is so soothing for some reason I love it
@ColdFusion stop impersonating the real ColdFusion please
Damn, I respect the dude for going out like this. With integrity and honor, that's bloody rare today
Never even heard of “Quibi” .They did a terrible job at marketing
Sir we offer 3 months free
I knew about it I just didn't want a second netflix subscription price on my bills
Hah same here, i didnt realy listen that well to this video, but when he mention Quibi in the same sentence as Netflix, i was like Wooow. So this is not like 2004? haha
Who would even came up with this shitt haha.
@@phoenix15_ none knew about that
Doesn't even matter when over 90% of the people who tried the free trial left anyway. This was a terrible idea and no amount of marketing was going to save it.
if i want to watch short and quality video i can watch ColdFusion
I ignored quibi since it seemed like a fad when it first launched. He would have been better off posting the first few episodes free then out the finales behind a paywall
it'd give users time to commit to a series
I think the timing was just poor. In a pre-COVID world it could have really been successful. Now we all sit at home watching entire seasons all the time.
That probably would have made more money, but that sounds like it would be awful to use lol
Thats's the most evil thing I could imagine. Especially if they don't tell you clearly that you will have to pay for the finals lol
@@sandyknowles5638 it was free for 90 days. Enough time to commit to a serie
I find it ironic that in the past 10 years, most people have stopped perceiving celebrities as genuine, while I have recently stopped perceiving social media influencers as genuine.
Ikr. Everyone is fake as fuck
I'll give them credit for taking responsibility for the failure. That's old school. You just don't see that anymore. I respect that.
They didn't though, they blamed it all on Coronavirus lol
did you even watched the vid? lol
Many take responsibility for their failures. You just don’t hear about those stories as much.
never heard of Quibi till it announced they were closing down
Same. I in my twenties and find the concept truly appealing. I am in my twenties and would rather watch something like this than CZcams (edit: ..on a daily commute).
Same. Maybe it's because I'm out of touch but I didn't hear about Quibi until they were mid-implosion. I think the problem besides Quibi besides lackluster marketing (I barely heard of them) is that streaming is already becoming too fragmented and if anyone will be streaming something on their phone they have CZcams and also "real" streaming services too. Quibi reminds me of Juicero in a way too.
I would’ve sold it to Disney so that it could be rebranded as Disney Shorts and then actually become successful 😂
And you would be rich
Ok wow for real tho
Katzenberg despises Disney, so I’m not sure if that would ever be possible.
@@acetheblackfalcon Disney was an investor of quibi.
Welp, guess you learn something everyday. Thanks for the tip!
I signed on to quibi. I found some of their content good. Here's the problem as I see it. It was *too easy to binge.* Grab a tablet and watch a series in an hour to 45 minutes. *The free trial allowed most to watch the content they wanted and quit.* That was my plan but I forgot to cancel. So I had a whole month to watch for $5 dollars. The pandemic was in full swing so I watch for about 2 hours a day while preparing and eating breakfast and lunch. Soon I was burning up the content I was interested in. By the month's end there was hardly anything left to keep me subscribing. I to friends about it. Most burned it up during the 7 day free trial.
What would I have done differently? To launch a streaming service you need tons of content. Quibi had that but it was easily consumed. To fill in that content *I would have added low cost content.* Invited *successful You tubers to create shows on the cheap* for a large payout than CZcams. Second *cartoons fit the format.* Jeffrey Katzenberg should have added animated features. Since the format was small I would only offer *3 day free trial.* This was also a perfect format to test network shows in small pilots. *Take a sitcom or tv series pilot and edit it down to quibi format size.* Allow the audience to vote on if the show has merit to be a full length show. Add a *2nd tier to show the content regular size for $12.99.*
Jeffrey Katzenberg is a brilliant guy and hindsight is 20/20. Sell this content to Netflix for half(500 million) and give your investors 75% of their money back. 🤷♂️
Fantastic content as usual - the short content about celebrities probably clashed too much with social media in which you can still see those celebrities in a more familiar environment
I don’t care About what everyone are saying.. am amaze by the fact that a 70 years old is that in shape and still dreaming about building, creating , taking over the world...an inspiration
Im curious to see what he might do next
remove money from the equation and maybe... he wont
Pretty respectable that they returned a lot of money to shareholders instead of taking it and running
True!
that guy sucks and you know it
‘If we can capture 2%’ said all the people who never got a deal on Shark Tank 😂😂
exactly!
Comment copier
Sometimes I wonder why CEOs & other great visionaries are so blinded where a common man could have judged the situation better. May be thats why we have to do enough 'groundlevel' market research. Door to door surveys would have identified this problem early on!
The higher your castle, the shorter your sight
DUDE... I am so happy that you have found the success you have. VERY VERY VERY deserved. Cheers to you.
Thank you for the insightful and detailed analysis of the rise and fall of Quibi. I think the biggest thing that they failed to realize was how crowded the marketplace was. People simply don't want another service to have to pay for and pay attention to. I thought Disney was lucky to sneak in, and they had better content and capitalization to allow themselves to do so. They also had the Mandalorian. Apple TV has The Morning Show and Ted Lasso. Quibi didn't have a killer show that people felt that they had to see, despite the general star power across their entire lineup. One must-watch show would've helped them. They never got their foot in the door, and gave people a true reason to go through the effort of signing up for yet another service when there were some many other free options, or ones that they were already paying for.
I remember seeing constant ads for Quibi for about two weeks a few months back and then never again.
This is the first time I’d heard about Quibi. Figure out how someone like me can be missed by all the marketing and you’ll find more reasons Quibi failed.
Guess you don't read The Verge or listen to their podcast;) They talked about it ALL the time
@@potices5245 Not the podcast no. I watch the occasional video and I suspect I’ve seen Quibi mentioned but not enough to register. Also I have CZcams Premium so no ads. Would have to have been either a Facebook friend calling it out or be featured in a video for me to notice. Or my teenager could have told me about it (he didn’t). I watch a LOT of CZcams so it’s hard to go completely under my radar but they managed.
@@potices5245 verge 😂😂😂
lmao exactly
@@SportPlusDad I think most people found out about it via yt ads so i guess that makes sense that you might not have heard of it
there’s already so much high quality short form out there for free, how could they compete?
The last thing i want is another damn streaming service i have to pay for to watch the single show I'm interested in. That is why they failed.
Yeah, there’s a good chance I would’ve watched Quibi if it was free, with some ads (like CZcams)
I saw a poster for this in a t-mobile store in Brooklyn, I asked the rep what it was and he shrugged his shoulders and said “it’s like Netflix”.
as a millenial.
1. money, make it free.
2. marketing. (i only heard about it when it flopped)
3. creator driven, let other people and influencers create content. (and do free marketing)
Where does profit come from?
Doesn't that just throw the core concept out the window though?
It is very quick content with high quality production, so having content that is creator driven for the platform isn't the goal at all
@@FateBoost youtube like models or premium content!
@@jensennguyen02 yeah but i think that that is one of their main shortcomings...
Yea agreed no one is going to pay a subscription fee for 7-10 minute “episodes” when CZcams already exists.
I preordered Quibi so I got it as it dropped. After finishing “Most Dangerous Game” and that small town murder story show, I soon realized that I’ll have a problem finding my next favorite show. I further struggled with selfishly consuming content I couldn’t share.. not even a screenshot was possible on my apple device.
Thanks for the synopsis. It was designed with MPAA in mind.
What's the show name, "the small town mystery"?
So in fact DRM killed the platform. If you cant make a meme of something, it will die.
So apple killed it.
@@TheFourthWinchester nah DRM was on android to.
This could have been avoided if they just check the immediate competitors: Netflix, Disney, Amazon. Any of them can easily eat you in a bite.
Surely then, the way to win is to produce a killer feature and sell it to Netflix.
I remember watching review videos for quibi absolutely tear it apart.
Betting on mobile users to pay a monthly fee was and still is a dumb move
Exactly. Company understimate this
Well it's still one of the most feasible source revenue. I think many content streamer website still have monthly fee, even though most of it using freemium method first.
In case you need an example, take a look at netflix
@@athurnm netflix isn't mobile first
@@gilreiter6930 it isn't, I only highlighted that Netflix use monthly fee payment as their main revenue which is what this comment argue about
@@athurnm read again. The comment talks about MOBILE USERS.
They should have made it as youtube for filmmakers. Omeleto type of content on free tier with ads. Some really good films go to premium tier.
I think most filmmakers consider Vimeo as their YT
Ok that's an amazing idea again
So I’m in history right now and this is far more enjoyable. Good job on the really informative but also entertaining content!
Your music ALWAYS astounds me how it captures the moment. You're an inspiration man. Love all of your tech company videos
I think cold fusion purposely made the video short to put salt on quibi's injuries
Hearing him talk about “if we just capture 2-3% of that addressable market” and particularly the way he phrases it just makes me think their TAM calculation was WAY off
Damn Jeff was crazy important for the entertainment industry
Yeah he seriously did so much amazing work, it surprises me that he failed so hard at trying Quibi
I guess he really didn't understand the full appeal of mobile content and just treated it as mini tv, the shareability of content is so important
yup
That last part of your video really restored some hope in humanity for me
What would be nice would actually be if CZcams picked up this and put all the quibi content on the platform. Because I really do think that there's an unexplored market in watching content that is designed to work in both portrait and landscape. CZcams has the users and would be able to test if it worked with the content that quibi has already, if it does seem like users will use this feature, then CZcams would know that they could produce this type of content. If it didn't pan out, then at least they had a better chance of testing the idea.
I remember seeing ads for Quibi a couple of years back. It seemed like an interesting idea but I was like "there's already Netflix and CZcams..." and I don't even have Netflix, just watch CZcams because there is so much quality content like Cold Fusion and its free. Why would I pay 5-7 dollars a month for something I'm honest probably not even going to use? People used to pay hundreds of dollars a month for cable service for information and entertainment and now it's all just free online...what a time to be alive.
This "Hi" is the best! Love it :)
I know right
People watch short form content like CZcams, Instagram videos and parts of a show on Netflix and that works because it already offers huge libraries from content creators either through their catalogs or through the content from creators on the various platforms. Creating premium short form content just 7 to 10 minutes long doesn't make sense when you can start a show on Netflix or Amazon and finish it later. Plus the space is extremely saturated and having to pay for another subscription for sub par at best content.. I would have not bet it all on premium short form content from expensive traditional media talent rather than less expensive curated independent creators
As I understand Quibi is like Netflix but with shows who have only 10 min episodes. Thats not realy that different from Netflix. There are a lot of shows on Netflix with around 20 min per episode. Why should I watch these short Shows (from Quibi) when I allredy have Netflix, where I just can watch 1/2 an episode. The only thing that brings me (and probably a big part of the consumers) to a new platfrom, is content. Realy good content, series or movies you just want to watch and you cant elsewhere.
@@akuno7294 Yeah but shows on Netflix are storied to be a normal full length show without commercials which are typically 21 to 42 minutes in length. At only 7 to 10 minutes long you have to adapt the show from the more typical and longer story lengths to a more truncated timeline, likely at the sacrifice of content quality. You can Start a show on Neflx and have access to their expansive catalog, watch 10 minutes of a normal show, and finish it later. Also Quibi didn't initially allow you to stream their shows on TV. If people only want to watch a short form content video, they have CZcams and other content creator curated entertainment and social media apps like Instagram and TikTok.
^^^ i think this is the main reason it failed-- not really enough of a market for short content. if you want 7-15 minute videos, there's plenty to watch on youtube. many reviewers also pointed out that quibi's series really just felt like a 70 minute movie unnecessarily cut into 10 parts.
4:01 "One of the great blockbuster businesses of all time." Yup, it's definitely a blockbuster
Omg I was thinking of the same and was looking for a comment who noticed that 😂
'blockbuster' for sure. Both couldn't survive in times of Netflix 😂
😂👍
I thought Idea was great just a few suggestions I think would ve helped them a lot
1 ) recruitment fresh talents who were good in their craft ,this would have brought the production price down
2 ) cutting down the profit
3 ) good commercial or more so making it catchy would ve helped them gain traction
4 ) learning more about their target demographic
Big respect to the team for not hiding after failure. That said, I think not offering your product to a bigger audience when its cost would be minimal, will never play in your favor (not offering a TV app, Computer program, web browser...)
I’ve never been early in this channel and people have already commented.
Always love Dagogo’s contents
2:00 "everything he touched turned to gold"
Yup he really fixed Black Caldron.
I feel like Millennials and Gen Z were telling EVERYONE who would listen that Quibi was dumb and was gonna fail long before it launched.
like almost immediately after announcement...
I remember seeing celebrities posting ads on their stories for this app and i literally didn't wanna download it coz i knew their opinions are not genuinely it's like an ad they get paid for
He wasn’t wrong when he said covid was the reason they got derailed… they weren’t given an opportunity to drag on a bit more and learn and adapt since almost immediately their target market was instantly wiped out.
True, the pandemic destroyed what they said was their core audience, and without any foreseeable changes in the short term (
Props for them admitting defeat, and returning money to shareholders as best they can.
Brother, I don't know what I would have done, but this vdo really, did give me a new perspective to think about my own business. Thanks, brother!
Living in Japan, I've been commuting to work for ages, including at times when other countries were on lockdown. I use my phone everyday to surf, play games and watch videos. I also watch video content on my Android TV.
However:
- I never heard of this subject until recently.
- I never saw the app featured at Google Play, for either my phone or Nvidia Shield TV (presumably, it was region locked).
- I don't need to pay 5 dollars a month for LESS content than Netflix or CZcams.
- CZcams is free and both CZcams and Netflix can pause AND replay content between devices (so I can start a video on one device and finish watching it on the other).
- Lots of CZcams content is specific to my own interests and/or doesn't require me to think too much, unlike "Hollywood" or studio-produced content. In the mornings and evenings, commuting to work, or on my lunch breaks, I'm tired and don't want to concentrate on narratives too much. CZcams is more accessible for me.
John Titor the time traveller was asked what they did for entertainment in the future. He answered “we just watch each other and we entertained ourselves”.......we don’t watch mainstream media as it didn’t really exist anymore. back in the 90s with dial up internet that made NO SENSE! But now, with how things are with you tube...it makes total sense. It really stuck with me back then I couldn’t figure out what he meant. 🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯
To be honest, after seeing the final itnerviews with Jeff Katzenberg towards the end of this video - I have to say hats off to them. Most people, would A) just have kept going and wasted investors money for another year or two and/or B) continued to make excuses. I know they made it sound like he blamed it entirely on the coronavirus, but that final interview that was shown in this video, he does seem to honestly say that their product/market fit wasn't good, somewhere else along the way their idea crashed and burned, and of course the coronavirus meant people weren't on the go anymore. Most high profile startups do not end this smoothly haha
Cold Fusion is playing Tangerine Dream, this old song has made quite a comeback!
Love on a Real Train.. yeah!
Performed by State Azure
I see you're a man of culture!
I didn't even know Quibi existed.
I've only heard the name after it was shut down.