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Hollywood-Backed Quibi Thinks You'll Pay for its Video Bites

Associated Press

   LAS VEGAS - A startup heavily backed by Hollywood is wagering that
   you're ready to set aside YouTube and TikTok to watch star-studded
   short videos on your phone -- for a price.

   The company behind this billion-dollar bet is Quibi, which is preparing
   to offer movies, shows and other short-form video designed for viewing
   in short bursts on mobile devices. It's an enormous gamble, especially
   considering that several earlier efforts in mobile entertainment --
   most notably Verizon's ill-fated Go90 service -- fell flat.

   Founded by former Disney studios chief and DreamWorks co-founder
   Jeffrey Katzenberg and helmed by former Hewlett Packard Enterprise CEO
   Meg Whitman, Quibi is heavy on big ideas and Hollywood muscle. It has
   backing from all the major movie studios and entertainment companies,
   $1 billion invested in original programming, and star power in the form
   of creators and producers from Steven Spielberg to Chrissy Teigen.

   Quibi plans to launch April 6. It will charge $5 a month for an
   ad-supported service, and $8 a month for an ad-free version.

   Company executives argued at CES that Quibi will offer the first
   entertainment platform designed exclusively for the phone. In an
   interview at CES, Katzenberg said it represents the first time
   "professional storytellers" have tackled the problem of delivering a
   high-quality viewing experience on mobile.

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