ToplineQuibi is considering strategic options including a possible sale, anonymous sources told the Wall Street Journal on Monday as the streaming service continues to struggle to gain subscribers despite raising nearly $2 billion from investors and attracting a high-profile team and famous actors and producers. Jeffrey Katzenberg and Meg Whitman speak at an event in Beverly Hills on October 10, 2018. Quibi launched during the height of the pandemic, which Katzenberg cites as the main source of difficulties for the company. “I attribute everything that has gone wrong to coronavirus,” Katzenberg told the New York Times in May. But we own it.” With more people staying home, Quibi backpedaled from being exclusively on mobile to allowing subscribers to watch the content on television screens.

Source: Forbes September 21, 2020 19:07 UTC