One of the most bizarre streaming services in recent years, Quibi has not yet managed to secure the foothold it’s been vying for, falling far short of its anticipated subscriber growth. The service isn’t ready to say die, however, as new information suggests that Quibi is ready to make another marketing push, just in a slightly different direction.
Information provided to Deadline suggests that Quibi is digging into its pocketbook yet again, buying up even more TV ads and prioritizing circulation of clips online. From what can be gleaned, it seems the company is moving away from brand awareness and more towards advertising its unique shows, collecting a wide variety of big names to headline various projects. A brief scan of the numbers shows that Quibi has increased its output of YouTube videos in particular by about 35%.
This new strategy comes after a difficult launch for Quibi. While the company disputes some of the more pessimistic reports regarding its subscriber count, it still admits it has some re-evaluation to perform. Reflecting on the missed projects, owner Jeffrey Katzenberg has primarily put the blame on the Coronavirus pandemic, though this explanation doesn’t quite square with the runaway success of other services like Disney+. Regardless, there is some good sense to the pivot, as Quibi’s marketing material has consistently received more positive impressions and views from trailers and ads for content, as opposed to the service itself.
The new TV ads feature some of Quibi’s original content, including shows like Die Hart and Most Dangerous Game. While the ad buys have been spread out over a variety of networks and content, there is a heavy emphasis on sports, with about 40% of the investment going into sports related programming since July 1. The NBA was the top of the list, accounting for 16% of spending, and returned 12.6% of Quibi’s total ad impressions. Total spending on TV ads totals an estimated $10 million, with a return of 469 million impressions.
It will be interesting to see how this new strategy works for Quibi. A stronger focus on their original content may result in heightened interest in the service, but it’s also undeniable that Quibi’s stumbling was not due to a lack of awareness. Discussion about the service was ubiquitous during its launch, with advertisements all over TV. With over $1.75 billion dollars in funding however, it seems as though Quibi still has resources to spare, and audiences will be reminded of its existence yet again, whether they like it or not.
Source: Deadline
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