×

Jeffrey Katzenberg, Meg Whitman Offer Details on Quibi Launch, Pricing

Quibi founder Jeffrey Katzenberg and CEO Meg Whitman offered an in-depth look at their new short-form video service during the Produced By conference on Saturday in Los Angeles.

Quibi (short for “quick bites”) was first unveiled by Katzenberg and Whitman back in August. The company has already raised $1 billion from investors, though Whitman noted they plan to raise “about half that” again either this fall or next spring.

The company currently has projects in the works from A-listers like Guillermo del Toro, Antoine Fuqua, and Sam Raimi. Each series is expected to be two to four hours in length, with each one divided into segments that will be no longer than 10 minutes each.

According to Katzenberg, the service will have two pricing tiers at launch on April 6, 2020. The first will cost $4.99 with one pre-roll ad before each video segment — a 10-second ad if the video is less than 5 minutes and a 15-second ad for 5-10 minute videos. The ad-free option will cost $7.99. Whitman also said they expect to have approximately 7,000 pieces of content available within the first year.

In terms of programming strategy, they said they are pursuing a range of projects but that they will be diving deeply into viewership data as soon as it is available to better focus their slate.

“I said to Meg that, until day one, every decision that we make around content will be driven by instinct,” Katzenberg said. “Minutes after we launch, everything will be driven by data.”

Katzenberg also went in depth on the financials of a Quibi series. Quibi will pay cost plus 20% up to $6 million an hour. The Fuqua project currently in production, titled “#Freerayshawn,” will be approximately two and a half hours long with a $15 million budget.

In terms of ownership, two versions of each series will exist. The first will be the Quibi version divided into segments, which will be owned exclusively by Quibi for seven years. At the same time, the creator of the project will edit together a full-length version with no segmentation. After two years, the creator will fully own the full-length version and can sell it globally.

The assembled producers seemed quite impressed with what they were hearing from Katzenberg and Whitman, with positive murmurs moving through the crowd on multiple occasions.

More TV

  • T-Pain, Faheem Rashad Najm. T-Pain performs

    TV News Roundup: 'T-Pain's School of Business' Sets August Premiere

    In today’s roundup, “T-Pain’s School of Business” sets an August 6 premiere on Fuse, and OWN greenlights a new talks series. EXECUTIVE NEWS Matt Brodlie is leaving his role as director of original film at Netflix to join the Disney+ content marketing team as senior vice president of international content development. In his new role, [...]

  • Songs for Screens Powered by Mac

    Songs For Screens: Labrinth on Scoring HBO’s Drake-Produced Drama 'Euphoria'

    British singer-songwriter Labrinth (née Timothy Lee McKenzie) has been having one of the biggest years of his nearly decade-long career, from the April release of his collaborative album with L.S.D. (a.k.a. Labrinth Sia & Diplo) to his starring role in the latest campaign for MINI, where he reinterprets Cole Porter’s cowboy classic “Don’t Fence Me [...]

  • The Office

    'The Office' to Stream Exclusively on NBCUniversal Service Beginning in 2021

    NBCUniversal announced Tuesday that it will begin streaming “The Office” exclusively on its standalone streaming service beginning in 2021. The popular comedy series will leave Netflix once the current deal with NBCU expires at the end of 2020, the same year that NBCU plans to launch its ad-supported streaming service. All nine seasons of the [...]

  • 'Lincoln Lawyer' Series in Development at

    'Lincoln Lawyer' Series in Development at CBS from David E. Kelley

    David E. Kelley is returning once more to the court of legal dramas. CBS has issued a series production commitment for “The Lincoln Lawyer,” with Kelley in position to pen and executive produce. Based on the series of bestselling novels by Michael Connelly, the show hails from A+E Studios in association with CBS TV Studios. [...]

  • Patrick Somerville'Maniac' TV Show premiere, London,

    'Maniac' Creator to Helm 'Made for Love,' 'Station Eleven' for WarnerMedia

    “Maniac” creator Patrick Somerville has signed on to helm two new series, “Made for Love” and “Station Eleven,” for WarnerMedia’s upcoming streaming service. “Made for Love,” which will be executive produced and directed by S.J. Clarkson, is a 10-episode, straight-to-series adaptation based on the novel of the same name by Alissa Nutting. The half-hour comedy [...]

  • Naomi Watts and Gretchen Carlson'The Loudest

    ‘The Loudest Voice’ Stars Naomi Watts, Russell Crowe Talk Roger Ailes

    Roger Ailes may have been the force behind the creation of Fox News, but the late newsman’s legacy will forever be his atrocious sexual harassment of several of the network’s female anchors and producers. Showtime premiered its new limited series “The Loudest Voice,” which chronicles Ailes’ rise and fall, on Monday night at the Paris [...]

  • Steve McQueen VSS

    Amazon to Launch Steve McQueen's Anthology Series ‘Small Axe’ in the U.S.

    Amazon has boarded “Small Axe,” the upcoming anthology series from “12 Years a Slave” director Steve McQueen, and will launch the series in the U.S. It will bow on the BBC in the U.K. and BBC Studios is selling it internationally. Amazon’s European content chief Georgia Brown revealed its involvement in the series, Tuesday, at [...]

More From Our Brands

Access exclusive content