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‘Netflix, Disney Plus aren’t our rivals’ says Quibi CEO

Platform spending an average of $100,000 per minute on content

As Quibi prepares to launch to consumers on 6th April, the mobile streaming service’s CEO Meg Whitman has declared the company doesn’t consider the likes of Netflix and Disney Plus as their rivals.

Speaking at the 2020 Upfront Summit in Los Angeles, Whitman said that both of those SVoD services see only 10 per cent of viewing via smartphone, and most of that is during primetime hours.

Whitman argued that Quibi is designed for on-the-go viewing between 7 a.m. to 7 p.m. — with all of its content designed to be watched on a smartphone.

However, Whitman did admit that Quibi will “compete for entertainment dollars.” At launch, Quibi will cost $4.99 monthly for the service with ads and $7.99 per month without ads.

In terms of Quibi’s investment in content, Whitman said the company is spending up to $100,000 per minute, or $6 million per hour, on production budgets for its top-tier originals, plus a 20 per cent profit margin to the creator.

Whitman also said Quibi’s mobile-specific platform, designed for both horizontal (landscape) and vertical (portrait) viewing, has “inspired creators” to explore new forms of storytelling.