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
#2>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 rate bad for converting from free to paid? What's the appropriate benchmark for this kind of thing?
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#3>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.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#4>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…
>but is an 8% conversion rate bad for converting from free to paid?
It may be if they based their financials (revenue, debt, and investment) on higher numbers.
And I agree, it seemed obvious that this was going to crash and burn very quickly.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#5? !0% is a pretty good conversion rate though.
That's a positive number. If they had designed their business around 'the next 2 years' and not 'everyone will buy all of it right away' well then maybe they stood a chance.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#6>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…
Exact benchmarks are going to vary per product, but yeah it's bad.
For free trials where you don't provide billing info in advance (e.g. a lot of software 30-day trials) 8% would be a great rate. Because the default do-nothing action is nothing.
But for subscription services where you do provide billing info in advance, 8% retention is pretty terrible. If 92% of people are taking the effort to cancel, when the default is to let the subscription charge... it's definitely not great.
(I'm assuming Quibi required billing info in advance, like pretty much every other subscription content service does.)
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#7>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…
I’d be shocked to hear that only 8% of people convert with Netflix for example. Or Disney+ or any of the streaming services.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#8>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.
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Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#9I loved Quibi's short form dramatic and comedic content.
Shape of Pasta is a cooking show about rare pasta types -- sometimes being made by only a single person in a village!
Run This City - A documentary about Jasiel Correia, the youngest mayor in Massachusetts who get's caught in numerous controversies.
Nightgowns follows Drag Queen Sasha Velour's Nightgowns tour, this program worked particularly well on the service.
There are a couple more shows that I live Dishmantled, Let's Roll, Singled Out.
The issue is that these shows had 7 - 10 episodes each. Most of Quibi's content is daily news programming. It honestly felt similar to the daily news shows I can get on Snapchat for free.
If Quibi had more shows like the non-daily news shows I think I would have stayed longer, but Quibi's content is mostly daily news.
Re: Quibi reportedly lost 90 percent of early users after their free trials expired
#10>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…
Around twice that would be typical for content service trials.