According to reports, Jeffrey Katzenberg is considering shutting down his mobile-first streaming service Quibi.
The Information reports Katzenberg recently approached companies such as NBCUniversal, Apple and Facebook to sell the streamer’s back catalogue of content. All are said to have declined.
Now, according to the report, Katzenberg has told industry colleagues he may have to shut down the company.
Quibi has not commented on the report.
The mobile-first streamer has been in almost constant trouble since its launch in April. Earlier this month it was reported the company needed to find 1.8 billion by 2024 to stay alive, and Katzenberg has been exploring a possible sale, although he’s yet to find a buyer.
Many have put the streamer’s woes down to a refusal to change its mobile-first outlook during the pandemic, as viewers are not currently commuting – a key target audience for the streamer. However, Quibi has finally bowed to pressure launching apps on Apple TV, Android TV and Fire TV.