Latin America. The streaming platform Quibi, launched a few months ago focused on content for mobile devices, announced its closure after having had a good reception in the period of the beginning of the pandemic, which ended up affecting it.
According to The Wall Street Journal, the pandemic and the consequent quarantines and confinements, made the platform run out of new content, despite the large amounts of resources initially acquired to finance the productions.
He highlights that despite having had more than a million downloads of his APP during the first week of its launch, he did not manage to get followers to pay after the initial free period. 90% left the platform.
The creators of the platform could not find an offer to be acquired, added to the growth of other platforms such as Netflix, Amazon Prime Video, HBO, Disney +, so they announced their closure.
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