Despite billions in funding, Quibi's innovative short-form streaming service for smartphones proved unsustainable and will cease operations in December 2020.
As reported earlier, Quibi is shutting down. Launched with massive backing from investors like WarnerMedia, Disney, and Sony Pictures Entertainment, along with top creative talent and major sponsors, the platform struggled to find viability.
Remaining capital will be returned to these key investors.
Quibi has updated its support section with a dedicated "Quibi End of Service Announcement" page, stating the service expects to end "on or about December 1, 2020." An email contact is provided for questions or assistance.
The future of Quibi's exclusive content remains unclear. According to Variety, CBS Studios plans to shop its series Most Dangerous Games to other platforms, with other studios likely to follow to recover costs.
