Quibi reportedly lost 90 percent of early users after their free trials expired

Post by sulam » Fri, Jul 10, 2020, 2:11 PM UTC

crazygringo wrote: post #6

creaghpatr wrote: post #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 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 defaul…

Post by 1123581321 » Fri, Jul 10, 2020, 2:13 PM UTC

hello_friendos wrote: post #9

I 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 servic…

Post by paulcole » Fri, Jul 10, 2020, 2:18 PM UTC

danso wrote: post #20

ObsoleteNerd wrote: post #14

8% 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…

The recent major articles about Quibi being a disaster are not been about conversion rate, but about its huge costs combined with questionable proposition (which was particularly affected by quarantine life changes), and its poor performance on app store charts: https://www.vulture.com/2020/07/is-anyone-watching-quibi.htm... > As of early July, over 5 million phones had downloaded the Quibi app. Of those, 1.5 million…

Post by brootstrap » Fri, Jul 10, 2020, 2:25 PM UTC

ObsoleteNerd wrote: post #14

8% 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…

Post by formercoder » Fri, Jul 10, 2020, 2:26 PM UTC

Nextgrid wrote: post #15

ObsoleteNerd wrote: post #14

8% 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…

On the other hand, Disney has mountains of cash behind them while Quibi is VC-funded and VCs typically want to see results to decide whether to continue or cut their losses. Disney can get away with a terrible conversion rate forever while a startup can run out of funding very quickly.