Advertisers including Procter & Gamble, AB InBev and Google have bought two-thirds of Quibi's first-year ad inventory ahead of the short-form streaming service's launch.
Quibi was founded by longtime Hollywood executive Jeffrey Katzenberg, right, and is led by former Hewlett-Packard Chief Executive Meg Whitman, left. Photo: Martina Albertazzi/Bloomberg News By Benjamin Mullin and Erich Schwartzel June 19, 2019 4:02 am ET CANNES, France—Quibi has already taken a bite out of the world’s largest advertising budgets.
The company, which was founded by longtime Hollywood executive Jeffrey Katzenberg, has said its programming slate will include productions from A-list directors such as Steven Spielberg and Guillermo del Toro. Mr. Spielberg is developing a horror series for the service that users can only watch when it is dark outside, and Mr. del Toro is producing a zombie series. The full programming slate hasn’t been announced, but the service also will include daily news programming.
Quibi is the biggest venture to date from WndrCo, a new holding company founded by Mr. Katzenberg. Quibi has raised $1 billion from major movie studios and others to build its mobile app and produce short-form video content. Ms. Whitman said some of the ads will imitate the serialized format of Quibi’s shows, telling small “brand stories” in chapter-by-chapter segments. In four 15-second installments, advertisers can scatter a longer commercial in ad breaks throughout one of Quibi’s shows. Quibi also will allow users to binge watch the ads, viewing each segment in succession.
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