Quibi, the forthcoming shortform video service from former DreamWorks Animation CEO Jeffrey Katzenberg, will launch with two pricing tiers on April 6, 2020, according to reports.
Katzenberg and Quibi CEO Meg Whitman, who was previously CEO of Hewlett-Packard, confirmed details of the service while speaking at the Produced By conference in Los Angles over the weekend.
Variety, which reported the news first, said the execs revealed that the service aims to release 7,000 pieces of content in the first year, with series divided into short segments of no more than ten minutes.
The two pricing tiers will let viewers subscribe for US$4.99 or U$7.99 per-month. The cheaper option will include a pre-roll ad before each video segment, while the more expensive will provide an ad-free experience, Katzenberg reportedly said.
Quibi is being billed as a mobile-first service offering ‘quick bites’ of captivating content, with the company the product of both Hollywood and Silicon Valley.
Steven Spielberg, Guillermo del Toro and Sam Raimi are among the top talent that are reported to be working on shortform series for the service.