Quibi Misses Paid Subscriber Goal, Looks at Funding Options

Quibi, the OTT streaming service focused on short-form mobile video founded by Jeffrey Katzenberg and launched in April 2020, is struggling to gain subscribers in a crowded marketplace. According to sources, the company is considering its options, including raising more money, going public via a merger with a special-purpose acquisition company (SPAC) that helps fund deals, or a sale. Sources added that the company has enough cash for several months and is not expected to shut down in the near future. Continue reading Quibi Misses Paid Subscriber Goal, Looks at Funding Options

NewTV Plans to Bring Hollywood’s A-Game to Mobile Video

Jeffrey Katzenberg and Meg Whitman formed NewTV to offer short original programming designed for smartphones. They believe they’re creating the next-generation HBO or Netflix, and many big players in Hollywood are betting they’re right. Katzenberg said that the holding company he co-founded, WndrCo, closed a $1 billion seed-funding round on July 31. Other backers include Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&T’s WarnerMedia, Lionsgate, MGM, ITV and Entertainment One. Continue reading NewTV Plans to Bring Hollywood’s A-Game to Mobile Video

Katzenberg Envisions Next Wave of Entertainment for Mobile

Jeffrey Katzenberg, who left DreamWorks Animation last summer, is launching WndrCo, a new media and tech venture that has already raised nearly $600 million. During a Q&A in New York with Hearst Magazines president David Carey, Katzenberg said he is interested in the next wave of television, which he sees as a mobile experience. He cited the roughly $200,000 per minute that Netflix spends on content and the less than $100 a minute needed to produce most YouTube content, suggesting there’s an opportunity that falls between the two approaches. “He said a few companies have been successful at producing mobile-oriented original video for a few thousand dollars per minute — citing Vice Media, BuzzFeed and AwesomenessTV,” reports Variety. Continue reading Katzenberg Envisions Next Wave of Entertainment for Mobile