×
You will be redirected back to your article in seconds

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

  • TV Ratings: 'Batwoman,' ‘Kids Say the

    TV Ratings: 'Batwoman,' ‘Kids Say the Darndest Things' Tick Down

    After solid debuts last week, both The CW’s “Batwoman” and ABC’s revival of “Kids Say the Darndest Things” with Tiffany Haddish dropped off a little in week 2. The Ruby Rose superhero show fell 36% from a 0.5 rating to a 0.3, and lost around 400,000 total viewers from week 1. “Supergirl” followed it up [...]

  • Rafael-Cobos

    ‘The Plague’ Creator Rafael Cobos Talks Season 2, Screening at Mipcom

    MADRID — Writer-creator Rafael Cobos hosted the first market screenings for Season 2 Movistar Plus’ tentpole series “La Peste” (“The Plague”) at Mipcom this afternoon. Season 1 bowed in Spain in January 2018 to the best opening results of any series, aired or available, on the Telefonica-owned pay TV giant, who have promised that Season [...]

  • Notre-Dame de Paris cathedral is seen

    Pathe, Vendome Pictures Join Forces on TV Miniseries About the Notre-Dame Fire (EXCLUSIVE)

    One of Europe’s most revered film groups, Pathé, is stepping into TV drama with Philippe Rousselet’s thriving Vendôme Group to co-produce an ambitious miniseries retelling the devastating fire that ripped through the Notre-Dame cathedral in Paris. The companies are partnering with U.K.-based Xavier Marchand’s Moonriver TV to co-develop the project, surely one of the highest-profile [...]

  • Donald Trump Hollywood Racism

    White House Says Trump 'Strongly Condemns' Violent Anti-Media Video

    President Donald Trump hasn’t yet watched a violent parody video in which he’s depicted killing figures representing media outlets and his political rivals, but the White House says he “strongly condemns” it. “Re: the video played over the weekend: The @POTUS @realDonaldTrump has not yet seen the video, he will see it shortly, but based [...]

  • How Mipcom is Adapting Through 'The

    How Mipcom Is Adapting to Wider Content Offerings Through 'The Streaming Offensive'

    With the rise of streamers rapidly changing the television industry, it was inevitable that the biggest TV market would have to address the evolution. A year after exploring the so-called big shift in television, the theme of this year’s Mipcom conference is the Streaming Offensive, with sessions from speakers including Amazon Studios’ head of international [...]

  • Ronan Farrow Noah Oppenheim

    NBC News Rebukes Ronan Farrow: 'We Have No Secrets'

    The battle for facts between Ronan Farrow and NBC News continues. The president of NBC News pushed back on some of the explosive claims made by Farrow Monday, calling into question an allegation that the NBCUniversal news outlet knew about sexual misconduct by former “Today” anchor Matt Lauer before he was fired in 2017 – [...]

More From Our Brands

Access exclusive content