Their Princess Bride home movie is fantastic.
Quibi reportedly lost 90 percent of early users after their free trials expired
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Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#42The problem with Quibi is thinking that they can charge for this content.
People are not gonna pay for quick bite videos, even if they have a high production value. Why would anyone do that with such limited time?
The problem of all these platforms is that they think they are creating a new market or expanding an existing one and they forget that people only have 24 hours a day to do things.
If you create something like Quibi you're competing with Instagram, Snapchat, TikTok, YouTube, Netflix, Xbox/PlayStation/Nintendo-Switch, Mobile Games and anything else that is trying to grab a slice of you leisure time.
Why would I pay for this when I already pay for other options with more content and get a handful for free?
Quibi is what you get when you think you know your customers but you really don't. It's the type of self-deluded product that is created in an echo chamber by rich people who believe their past success is a formula that can be reproduced at any scale as long as money is involved. The problem with that idea is that it values scale more than ingenuity.
Doing short vertical videos with high production value and charging to watch them is almost an absolute zero in terms of innovation.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#43>According to the firm’s new report on Quibi’s early growth, the short-form video platform signed up about 910,000 users in its first few days back in April. Of those users, only about 72,000 stuck around after the three-month free trial, indicating the app had about an 8 percent conversion rate. I fully expect Quibi to crash and burn under the weight of the content costs among other things, but is an 8% conversion r…
For a very rough baseline:
> The industry conversion rate from a free trial to a paid subscription hovers below 33 percent
https://www.vulture.com/2020/07/is-anyone-watching-quibi.htm...
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#44A few others have mentioned that Quibi is not an interesting enough alternative timewasting app to Snapchat, Instagram, etc. I agree and I'm glad to see it fail for that reason; I want my attention span back and I'm trying to cut these things out of my life. I notice my well-being improves when I do.
That's personal preference obviously, and people are free to spend their time how they want, but I think the loss of attention span is a culture-scale problem now and excising these companies from our lives is a necessary treatment.
I hope Quibi folds permanently and we salt the earth where it stood.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#45>According to the firm’s new report on Quibi’s early growth, the short-form video platform signed up about 910,000 users in its first few days back in April. Of those users, only about 72,000 stuck around after the three-month free trial, indicating the app had about an 8 percent conversion rate. I fully expect Quibi to crash and burn under the weight of the content costs among other things, but is an 8% conversion r…
Especially given that Disney managed 11% conversion with their awesome catalog and brand recongition. It seems 8% isn't so bad.
That brand recognition and catalog would also increase the denominator of people signing up for the trial though. It's not clear to me how these two effects would net out.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#46Quibi has the problem that other platforms like it have: thinking celebrities are the right way to entice people. Luminary Podcasts has the same issue. Majority of gen Z / millennial folks that I know, don't care about Trevor Noah or any of the late night comedians. They care more about famous YouTubers and TikTok stars.
And besides that, YouTube, TikTok, Twitch... already provide endless engaging content for free. It's not like you can exhaust any of those services.
People can’t keep up with everything as it is. There is a massive content bubble. I don't think Quibi or even most of Hollywood will survive.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#478% is not a terrible conversion rate at all, and they’ve only just started. I’m not a Quibi user and have no vested interest in them either way but this is the third different article I’ve seen in the last week or 2 talking about how terrible they’re doing and now they’re about to crash and burn, because of an 8% conversion? Comparing them to Disney is ridiculous too, it’s Disney! With multiple generations obsessed w…
I actually don’t know if 8% is a good or bad conversion rate for free trial to month 1 paid subscriber for streaming services, or even just subscription services. In online marketing world, yes 8% is terrific, since just CTRs stand around 1%. So, just curious what baseline you’re referencing to conclude 8% is good.
Edit - some cursory googling suggests free trial to paid conversion for subscription services are generally somewhere in the 10-25% range. So I don’t think 8% is good, maybe mediocre. Note this is distinguished from lower rates associated with freemium model products(e.g., spotify). Will try to dig up some better refs to link out to.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#48The free trial code was pretty poorly implemented. I remember I signed up, and it didn't let me watch immediately. By the time I verified email or whatever the heck they wanted and tried again, the trial had expired and so I never even got to try a single video...
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#498% is not a terrible conversion rate at all, and they’ve only just started. I’m not a Quibi user and have no vested interest in them either way but this is the third different article I’ve seen in the last week or 2 talking about how terrible they’re doing and now they’re about to crash and burn, because of an 8% conversion? Comparing them to Disney is ridiculous too, it’s Disney! With multiple generations obsessed w…
Did the user have to provide a credit card, are a lot of these 8% maybe just folks who forgot to unsubscribe? I feel like this conversion rate thing really "depends".
I saw a few tweets saying 'remember to cancel Quibi', so I guess it's auto renew by default? Most streaming services are like this
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#50I can't imagine Apple TV+ having any better conversion rate unless people just forget to cancel their subscriptions at the end of the trial. There's just so little content there and basically nothing that people talk about.
The difference is that Apple has their own ecosystem and about $200 BILLION cash on hand to keep trying...and to buy content https://www.cnbc.com/2020/01/28/apple-q1-2019-cash-hoard-her...