why quibi failed?

why quibi failed?
It is impossible to pinpoint exactly why Quibi failed, but several factors likely contributed to its downfall, including content that failed to generate buzz, an inability to grow its subscriber base, the Covid-19 pandemic and the competitiveness of the streaming landscape.
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What went wrong with Quibi?
Quibi had long been mocked for its hodgepodge programming lineup and inscrutable name (short for “quick bites”). ... In the letter, the co-founders said Quibi's failure likely resulted from one of two problems : “because the idea itself wasn't strong enough to justify a standalone service or because of our timing.” Nov 11, 2020
Full answer in: www.bloomberg.com
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Why did Quibi shut down?
Why did Quibi fail? Despite throwing millions at original series, spending up to $6 million per hour of produced content, Quibi simply wasn't compelling enough for consumers to open their wallets — and the app launched amid a burst of new entrants into the streaming wars, including Disney Plus, HBO Max and Peacock. Dec 1, 2020
Full answer in: variety.com
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