Quibi, a 7 to 10 minute short video only online, is only available on the mobile platform.
Editor’s note: This article comes from the WeChat public account ” puffer film Archives “(ID: htysda) , author: Deng Ying Chong.
Quibi, which is only available for short videos of 7 to 10 minutes, is only suitable for mobile phones, has recently launched, becoming a streaming media platform between Netflix, Hulu, HBO, Disney + and other short video platforms such as Instegram, Youtube and Tik Tok. New streaming media platform.
Two years ago, iQiyi just launched the vertical screen drama “Life Has Started for Me”, and the short drama has not become popular in China. However, on the other side of the ocean, Meg Whitman, who had served as CEO of eBay and HP, and Jeffrey Katzenberg, the former chairman of Walt Disney Pictures and DreamWorks Animation, have already Started to prepare for a new streaming media platform Quibi that supports short- and vertical-screen playback by integrating short dramas, short variety shows, short documentaries, and even short news.
The platform started not only as the founder of Super Cattle, but also as a true star project with investors from Warner Bros., NBCUniversal, Disney, BBC Studios, Lionsgate, MGM, and Alibaba as investors.
The platform has already raised US $ 1.4 billion before the platform is launched, and has sold all the advertising spaces in 2020 to short-sell, recovering US $ 150 million in advertising revenue in advance. According to the New York Times, the company spent more than $ 1 billion on content purchases in its first year of establishment. Quibi, which is well-funded, still uses the custom model used by traditional streaming platforms and can provide producers with sufficient production costs.
Huang Guoxian (now the president of KINO Interactive China), who was the vice president of the film and television department of IMG Weimei, the largest US agency WME at that time, had contact with the staff of Quibi. He told Blowfish Jun that Quibi asked the project side The price is about 120,000 US dollars (about 850,000 yuan) a minute. In other words, if you make a total of six episodes, each episode is aboutAlthough the total length of the 10-minute play is only 60 minutes, the production cost that Quibi can provide can be as high as 7.2 million US dollars (about 50.87 million yuan).
With such excellent conditions and the new form of short play, it naturally attracted many gold stars. Steven Allan Spielberg (Steven Allan Spielberg), director of “The Story of Water” Gilmour del Toro (Guillermo del Toro), “Brave Game” starring Kevin Hart (Kevin Hart) and singer Jennifer Lopez (Jennifer Lopez) and so on have produced new programs for Quibi.
On April 6, 2020, Quibi launched nearly 50 shows on the first day of its launch, including the dystopian action thriller “Hunger Games” male partner Liam Hemsworth. “The Most Dangerous Game”, “The Street Lights Up” with actor Queen Latifah, who has won multiple awards such as the Golden Globe and Grammy Awards, and model Christine Tegan ( Chrissy Teigen participated in “Kristin’s Court” and so on.
Quibi said that it will release about 175 programs in the first year, a total of 8,500 episodes, with an average of 25 episodes updated every day. So many new projects will be launched intensively, and it will inevitably stop the use of seized users on other streaming media platforms and short video platforms.
Below, Pufferfish will show you how this short video platform is coming? Who can it “bite” with the name Quibi (quick bite)?
Use 7 to 10 minutes of video to seize the debris time of 18 to 44 year olds
“The reason for creating this platform is because its founders believe that people are willing to pay for good content. Previously, good content was mostly in the form of long videos. Nowadays, the most commonly used electronic products are mobile phones, and those Time is fragmented and shorter, but short video production has always been inferior to long video, so they want to try to make a high-quality short video content platform. “Huang Guoxian, who has heard Quibi’s commentary, revealed.
The Quibi party once told the media, “They don’t think they are competitors such as Netflix and Disney Plus, because they don’t plan to make long video programs that need to be watched during prime time.” In other words, although its customized business model and revenue model with advertising fees and membership fees as revenue are no different from streaming platforms such as Netflix, its actual competitors are short like Youtube and Tik Tok. Video platform.
When you open Quibi, you need to register an account and choose to purchase $ 4.99 per month (including advertising)It’s still a $ 7.99 (excluding ads) membership package. After paying, you can officially enter the home page of the APP. These steps are the same as those of the streaming platform.
But once you enter the APP, you can find its short video gene hidden under the skin of the streaming platform. Because the APP homepage shows the Today for you section recommended by the algorithm, each show and episode is presented as a header image. As long as you use Tik Tok to slide up or down with your fingers, you can switch videos arbitrarily. Once clicked, you can start watching the video.
Click Browse under the sub-column. The main sections are Trend, Daily Essentials News, Daily Essentials Lifestyle and New Releases. In fact, these videos boil down to five genres: movies, TV series, variety shows, documentaries, and news.
Because the target users of the platform are 18 to 44 years old, especially the audience of 25 to 35 years old, the content of the platform looks obviously younger. There are hip-hop battle variety shows like “The SAUCE”, and “YOUAIN’T GOT THESE” is a documentary program for tide shoes culture and so on.
Limited to the time limit of 7 to 10 minutes, the creative ideas of the online programs have also changed. Huang Guoxian told Pufferfish that in the past 90-minute movies, the script was about 100 pages. He had seen the script of the film project selected by Quibi, which was only about 10 pages. Although Quibi does not require an ending for each episode, you can make these series consisting of 10 minutes and 10 minutes of short videos into a complete movie. But in the actual viewing process, Pufferfish found that these short movies and short dramas are still different from traditional movies and TV dramas, and their story rhythm is fast, so that the audience can quickly enter it.In the context they created.
Even the rhythm of variety shows has changed significantly. In a blind date variety called “Singled Out”, only two “yes or no” questions, an open question plus a round of simple games were set up, and in 8 minutes, a final selection A person who is holding hands with a guest. Because the problem is explosive and the host ’s ability to bring out the atmosphere is good, this variety show also has certain highlights.
For the producers of these video content, short video was an area they did not get involved in. Quibi provided them not only with sufficient production costs and broadcast platforms, which is equivalent to paying for their trial and error, but also Quibi Give them more attractive conditions. Huang Guoxian told Pufferfish that Quibi only owns the copyright of the video content for two years, and the copyright of the video will be returned to the producer after two years.
When these videos were launched on Quibi, the platform also adopted strict protection strategies for their copyrights. Blowfish found that users can take any screenshots regardless of whether they browse the page or enter the commercials before the main movie, but once they enter the main movie, the screenshots show a black screen.
Like all streaming platforms, Quibi relies on high-quality content, so it is inevitable that most of the funds and other resources will be invested in content production. According to Goldman Sachs ’prediction that Netflix ’s investment in content will be in 2022 Up to 22.5 billion US dollars. In the future, Quibi will surely burn more hundreds of millions of dollars.
Received $ 150 million in advertising revenue before going online, but scored only 3.8 after going online
Quibi has just been online for two days, and we still do n’t know what the market is for videos that can only be viewed on mobile phones with only 7 to 10 minutes of video. In favor of it, Warner Bros., NBCUniversal, Disney, BBC Studios, Lionsgate, MGM and Alibaba participated in the company.
Although to a large extent, these companies joined because the founder’s resume of Quibi is too good. However, the story told by Quibi is indeed quite tempting.
According to statistics, the average length of daily use of mobile apps by American adults in 2019 is 2 hours and 55 minutes, and this data shows a continuous growth trend. The second quarter of last year in ChinaThe average length of use of the mobile phone APP has reached 4.7 hours, so there is still much room for growth in the United States, and Quibi also has the possibility of development.
Moreover, users who are used to watching videos on their mobile phones during fragmented times are more and more accepting portrait videos. Quibi’s main Turnstyle technology supports users to watch programs in both horizontal and vertical modes on the mobile terminal. Although the producer needs to shoot two different versions of the horizontal screen and the vertical screen, which increases the production cost, and the angle and distance of the two modes seem to be significantly different, it also improves the user’s viewing experience, especially the vertical screen has a large number of The close-up close-up shots increase the user ’s immersion in watching videos.
In addition to attracting a group of investors, this story and the founding team are also highly sought after in the brand side. Last October, they already reaped $ 150 million in advertising revenue. Top advertisers such as Procter & Gamble, Pepsi, Google and others have all purchased Quibi Ad slot.
In order to attract the first batch of APP users, Quibi put most of its advertisements in online digital advertisements, and also placed advertisements in the Super Bowl in February 2020. Be aware that placing a 30-second ad in the Super Bowl requires a high price of $ 4.5 million.
In addition, Quibi also launched a 90-day free trial for users who signed up for the platform in April, and cooperated with T-Mobile, the third-ranked telecommunications company in the United States, and T-Mobile customers will receive Quibi for one year for free Member’s right to use.
Will the masses pay for high-quality content and strong marketing?
From the download page information of the App Store, Quibi’s current rating is only 3.8, and the number of commenters is only 1581. In comparison, Tik Tok’s performance is much better. At present, Tik Tok’s score is 4.8, and about 3.84 million people participated in the review.
Pufferfish counted the reasons why users below three points gave Quibi a low score. There are probably: the content is not rich enough and not attractive; it can only be used on the mobile terminal and not on the PC and other ports, which is inconvenient; A 90-day free trial, but you still need to charge when you use the App; the app crashes or there is a problem with the screen display.
It can be seen that regardless of the user ’s download volume and experience, Quibi ’s situation is not optimistic. Will this star project continue in the futureCan the dazzling achievements created in front of the line be able to “bite” between streaming media platforms such as Netflix, Hulu, HBO, Disney + and short video platforms such as Instegram, Youtube and Tik Tok, as its name suggests. Need to wait and see.
Quibi has just been online for two days, and we still do n’t know what the market is for videos that can only be viewed on mobile phones with only 7 to 10 minutes of video. In favor of it, Warner Bros., NBCUniversal, Disney, BBC Studios, Lionsgate, MGM and Alibaba participated in the company.
Although to a large extent, these companies joined because the founder’s resume of Quibi is too good. However, the story told by Quibi is indeed quite tempting.
According to statistics, the average length of daily use of mobile apps by American adults in 2019 is 2 hours and 55 minutes, and this data shows a continuous growth trend. The second quarter of last year in ChinaThe average length of use of the mobile phone APP has reached 4.7 hours, so there is still much room for growth in the United States, and Quibi also has the possibility of development.
Moreover, users who are used to watching videos on their mobile phones during fragmented times are more and more accepting portrait videos. Quibi’s main Turnstyle technology supports users to watch programs in both horizontal and vertical modes on the mobile terminal. Although the producer needs to shoot two different versions of the horizontal screen and the vertical screen, which increases the production cost, and the angle and distance of the two modes seem to be significantly different, it also improves the user’s viewing experience, especially the vertical screen has a large number of The close-up close-up shots increase the user ’s immersion in watching videos.
In addition to attracting a group of investors, this story and the founding team are also highly sought after in the brand side. Last October, they already reaped $ 150 million in advertising revenue. Top advertisers such as Procter & Gamble, Pepsi, Google and others have all purchased Quibi Ad slot.
In order to attract the first batch of APP users, Quibi put most of its advertisements in online digital advertisements, and also placed advertisements in the Super Bowl in February 2020. Be aware that placing a 30-second ad in the Super Bowl requires a high price of $ 4.5 million.
In addition, Quibi also launched a 90-day free trial for users who signed up for the platform in April, and cooperated with T-Mobile, the third-ranked telecommunications company in the United States, and T-Mobile customers will receive Quibi for one year for free Member’s right to use.
Will the masses pay for high-quality content and strong marketing?
From the download page information of the App Store, Quibi’s current rating is only 3.8, and the number of commenters is only 1581. In comparison, Tik Tok’s performance is much better. At present, Tik Tok’s score is 4.8, and about 3.84 million people participated in the review.
Pufferfish counted the reasons why users below three points gave Quibi a low score. There are probably: the content is not rich enough and not attractive; it can only be used on the mobile terminal and not on the PC and other ports, which is inconvenient; A 90-day free trial, but you still need to charge when you use the App; the app crashes or there is a problem with the screen display.
It can be seen that regardless of the user ’s download volume and experience, Quibi ’s situation is not optimistic. Will this star project continue in the futureCan the dazzling achievements created in front of the line be able to “bite” between streaming media platforms such as Netflix, Hulu, HBO, Disney + and short video platforms such as Instegram, Youtube and Tik Tok, as its name suggests. Need to wait and see.