Quibi Announces Shut Down
The streaming service, Quibi, announced it plans to shut down just 6 months after its launch.
Quibi was known for churning out 'short-form' content, and while some feel the concept behind Quibi was flawed, others believe the failure can be attributed to the pandemic.
Quibi was only $4.99/mo, but had to compete with other, well-established, streaming services such as, Netflix and Hulu.
Employees are currently being laid off, and offered severance packages.
If some of your favorite shows were on the platform, you may not have to worry about them being gone 'forever'. Quibi may sell off some of its content to other platforms.
(Ahem... 'Murder House Flip' please).
Source: Wall Street Journal