You probably don’t think much about Quibi. Unless you are Paul Singer or have a particular affinity for Schadenfreude (as we do), no one does, at least as measured by the number of people who actually pay for the short-form mobile video streaming platform that even fewer people asked for.
But if you’re looking for metrics as to exactly how bad things are beyond the above-mentioned conversion rate and impossibly grim projections based thereon, we’ve got a couple that will fill all of your gloating over the well-deserved misery of others needs right now.
Quibi Chief Executive Meg Whitman has put a condominium in West Hollywood on the market for $6.5 million — the same price she paid for the place in 2018.
Entertainment mogul Jeffrey Katzenberg has sold his Beverly Hills home for $125 million…. The property was never officially on the market. Mr. Katzenberg and his wife Marilyn Katzenberg “had been looking to downsize for some time, and received an offer they couldn’t refuse,” said their spokesman.
Did that time begin when less than a million people signed up for Quibi when it launched (compared to 10 million for Disney+)? When it became clear that less than 100,000 of them would stick around after their three-month trial ended? When the geeks crunched the numbers and realized that Quibi wouldn’t hit even one-third of its paid-subscriber goal by April? And did any or all of those things make them unable to refuse?