Is Quibi A Success? First-Week Download Numbers Have Been Revealed As Company Faces Coronavirus Challenges

Mobile-centric streaming platform Quibi launched a week ago today, amidst a growing worldwide appetite for content as well as skepticism over the viability of its business model. Despite that, CEO Meg Whitman recently boasted solid first-week downloads for the new service and discussed the company’s plan going forward.

Speaking to CNBC’s “Squawk on the Street” on Monday, Whitman claimed that Quibi had been downloaded 1.7 million times since launching on April 6. She also explained that while the platform was envisioned for use while out-and-about, during commutes or while waiting in line, Quibi still seems to be doing well while most consumers are stuck at home.

“It turns out people have in-between moments at home,” Whitman said. “We don’t actually think it hurt us.”

The brainchild of former Disney and DreamWorks executive Jeffrey Katzenberg, Quibi is intended to offer short bursts of video content through a mobile-only form factor. Shows and movies offered on the platform are presented in chunks no longer than 10 minutes and can be viewed in either landscape or portrait mode. The company plans to spend $1.1 billion on original content in its first year.

Whitman said that first-week sign-ups have exceeded expectations, possibly due to its generous 90-day free trial for new subscribers. Despite this enthusiasm, Quibi’s performance still pales in comparison to other new platforms like Disney+, which boasted 10 million sign-ups in its first week.

Quibi’s launch was marred by a lackluster-to-negative response to its offerings and business model.

“Quibi is the worst sort of over-funded, faux-innovative startup,” Engadget’s Devindra Hardwar said in a review. “It pretends to be changing the media industry, but it’s not actually solving any real issues for consumers, or the landscape as a whole. What it comes down to, really, is that nobody needs Quibi…”

Whitman said that the company has accelerated plans to add TV support to the app, one of the biggest early criticisms of the platform, especially with so many stuck at home.