Quibi will shut down 'on or about December 1,' but you might still be able to watch its videos elsewhere after that
- Quibi said Thursday it would end its streaming service "on or about December 1," after announcing its closure on Wednesday.
- It suggested you might still be able to watch Quibi videos elsewhere after that date.
- "At this time we do not know if the Quibi content will be available anywhere after our last day of service," it said.
- The pandemic was a main factor in its closure, Quibi said Wednesday. Content production cost the startup up to $100,000 per minute.
Quibi will stop streaming "on or about December 1," the service said in a short blog post Thursday night, after announcing its own demise on Wednesday.
But it suggested its videos may still be available elsewhere after it shuts down.
"At this time we do not know if the Quibi content will be available anywhere after our last day of service," it said.
Quibi, which produced short-form videos for mobile viewing, encouraged users to follow #Quibi on Twitter for updates.
The company thanked its customers for their support and for giving Quibi "an opportunity to entertain [them]."
On Wednesday, the app announced it would be shutting down after only six months, citing struggles during the pandemic.
Despite raising $1.75 billion from investors like Walmart, PepsiCo, and Anheuser-Busch ahead of its launch in April, the service failed to attract viewers, and none of its shows have become major hits.
Jeffrey Katzenberg, Quibi's founder, had previously said content production cost the startup up to $100,000 per minute. The company planned to spend $1.1 billion on content production in its first year.