Global Stock Markets Surge: Live Updates

The two have a combined 80 years of experience in leadership roles at some of the nation’s top companies. But they have spent nearly two years in start-up mode, prodding investors to kick in nearly $1.8 billion and bringing aboard producers and stars like Jennifer Lopez, LeBron James, Chance the Rapper, Idris Elba, Chrissy Teigen and more. Now Mr. Katzenberg and Ms. Whitman are ready to unveil their venture.

“This is either going to be a massive home run or a massive swing and miss,” said Michael Goodman, a media analyst at Strategy Analytics.

Quibi, a portmanteau of “quick bites,” will offer movies, reality shows and news programs made for the smartphone, with no installment lasting more than 10 minutes. Its offerings fall into three main categories: movies that will be released in chapters; documentaries and unscripted reality shows; and quick-hit news and sports reports from NBC, BBC, ESPN and others. Fifty shows will be available Monday.

There is, however, the question of how much people are willing to spend on streaming at a time when nearly 10 million people are out of work. Quibi (rhymes with “libby”) announced last month that it would be free for its first three months. After that, the cost will be $5 a month with ads and $8 without.

Article source: https://www.nytimes.com/2020/04/06/business/stock-market-today-coronavirus.html