New TV, the mobile-TV service devised by media technology company WndrCo and led by Meg Whitman and Jeffrey Katzenberg, has been renamed to QuiBi — short for Quick Bites.
The SVoD, which has received investment from the likes of ITV, 21st Century Fox and Disney, is expected to launch towards the end of 2019 or in early 2020. It is expected to be priced at around $8 per month without ads, and $5 with.
Speaking at Vanity Fair's New Establishment Summit in Los Angeles, Katzenberg and Whitman admitted Quibi faces a tough market as it aims to take on mobile-native platforms like the streamers and Facebook Watch.
“The place between improbable and impossible? That’s my home address,” Katzenberg said, comparing the journey ahead for Quibi to that of HBO.
HBO, Katzenberg said, made bold bets and big spends — and recruited talent and tore up broadcast standards and practices in a way that had never been done before.
Quibi is aiming for an audience aged between 25-35.