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An Anonymous Coward writes:

http://www.businessinsider.com/roku-files-for-an-initial-public-offering-2017-9

Roku has made official what's been rumored: It wants to go public.

The digital media player maker publicly filed its S-1 with the Securities and Exchange Commission on Friday - the first big step for a company seeking an initial public offering (IPO) of its shares.

The company plans to list shares on the Nasdaq stock exchange under the ticker "ROKU."

[...] As of June 30, Roku had 15.1 million active accounts on its service, according to the filing. Customers using Roku devices or TV's with its interface streamed 6.7 billion hours of internet video in the first half of 2017 - up 62% from the same period in 2016, the company said in the filing.

Original Submission

takyon writes:

Quibi Picked the Worst Time to Launch a Streaming Service for Short Attention Spans - Or maybe the best? (archive)

For months, Quibi, the phone-based streaming service that launched Monday, has been getting roasted by the small group of people whose professions require them to know about the existence of Quibi. The gist of the jokes has been that Quibi sounds like a 30 Rock fiction come to life. The brainchild of billionaire boomers Jeffrey Katzenberg and Meg Whitman, it's predicated on the idea that no one can pay attention any more, so if anything is going to lure the scattered, cellphone-obsessed youth away from the free and varied YouTube content with which they seem generally satisfied, it's high production values that you can't really see on a cellphone and the imprimatur of celebrities grandparents have heard of. Quibi has gone on a buying spree for every famous person in Hollywood's leftover ideas, which have been turned into "quick bites" of six to 10 minutes apiece. The company has already raised $1.75 billion dollars, on the strength of that idea and a slate that includes a reality show called Murder House Flip.

As someone who has not been above a Quibi joke herself, I am disappointed to report that Quibi is neither a glorious embarrassment nor a surprising triumph. It is, instead, expensively competent. The dozens of star-studded series it debuts with are, in general, solid and professional, and tend toward uplifting but brief documentaries I could totally imagine spacing out to in a waiting room. (The fact that almost no one on the planet Earth is spacing out in a waiting room right now is another Quibi punchline.) The implicit assumption of Quibi is that no one has any time anymore, even, say, for a 22-minute sitcom. And yet it is arriving at a moment when a majority of Americans have more time than they had weeks ago—if also, perhaps, even more shredded attention spans.

Quibi review – shortform sub-Netflix shows aren't long for this world

NPC-131072 writes:

From The Guardian:

Nearly three months ago, in early April, the $1.75bn content experiment known as Quibi lurched from its rocky, much-maligned promotional campaign into full-scale launch. The service offered a tsunami of celebrity-fronted shows segmented into "quick bites" (hence, "qui-bi") of 10 minutes or less – a Joe Jonas talk show, a documentary on LeBron James's I Promise school, a movie with Game of Thrones's Sophie Turner surviving a plane crash, all straight to your phone. At the time, many of us wondered if Quibi could deliver on its central promise – to refashion the style of streaming into "snackable" bites – or if, teetering under the weight of its massive funding and true who's who of talent as the world shut down, it would become shorthand for an expensive mistake.

The service, the brainchild of the DreamWorks Animation cofounder Jeffrey Katzenberg and the former Hewlett-Packard CEO Meg Whitman – two billionaires deeply entrenched in Hollywood and Silicon Valley establishment – was "either going to be a huge home run or a massive swing and a miss," Michael Goodman, a media analyst with Strategy Analytics, told the Guardian. Given a string of bad news since its 6 April launch – missed targets, executive departures, Katzenberg singularly blaming the pandemic – and the sunset of its 90-day free trial with millions fewer subscribers than anticipated, the scales seemed decidedly tipped toward swing and miss. But while it's too soon to declare the end of Quibi, it's still worth asking: is the promise of the quick bite already over? And what went so wrong?

Previously: Meg Whitman-Run Streaming Service "Quibi" Launches, Reception Mixed

Related: Fox Could Buy Tubi While NBCUniversal Eyes Vudu

Original Submission

takyon writes:

Quibi is dead, reports say

Plagued with growth issues, Quibi, a short-form mobile-native video platform, is shutting down, according to multiple reports. The startup, co-founded by Jeffrey Katzenberg and Meg Whitman, had raised nearly $2 billion in its lifetime as a private company. Quibi did not respond to requests for comment from TechCrunch.

The company's prolific fundraising efforts spanned prominent institutions in private equity, venture capital and Hollywood, all betting on Katzenberg's ability to deliver another hit. The startup's backers included Alibaba, Madrone Capital Partners, Goldman Sachs and JPMorgan, as well as Disney, Sony Pictures, Viacom, WarnerMedia and MGM, among others. The Information reports that Quibi will have $350 million left to return to shareholders.

Their pitch was highly produced bite-sized content, packed with Hollywood star power, and designed to be "mobile-first" entertainment. For the YouTubes and Snaps of the world, producing mainstream content on a shoestring budget, Quibi wanted to be an HBO for smartphones. Investors and pundits questioned the firm's ability to monetize this vision, and it became clear soon after launch that the company had miscalculated.

[...] Admitting that the launch hadn't gone as planned, Katzenberg blamed the coronavirus for the streaming app's challenges.

One problem with finding a buyer: Quibi doesn't even own most of its original "content":

Actually, Quibi doesn't own any of the big-budget premium content for which it has shelled out upwards of $100,000 per minute. The company has seven-year licenses on its short-form series; after two years, content owners have the right to assemble the shows and distribute them elsewhere.

An open letter to the employees, investors, and partners who believed in Quibi and made this business possible —

Also at The Verge, Business Insider, Ars Technica, and MarketWatch.

Previously: Meg Whitman-Run Streaming Service "Quibi" Launches, Reception Mixed
The Fall of Quibi: How Did a Starry $1.75bn Netflix Rival Crash So Fast?

Related: Fox Could Buy Tubi While NBCUniversal Eyes Vudu

Original Submission