Streaming service Quibi sells out of its $150M in first-year ad inventory

TechCrunch | 10/23/2019 | Staff
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Jeffrey Katzenberg’s mobile-only streaming service Quibi hasn’t even launched, but it’s already sold out of its $150 million first-year advertising inventory, the company announced this morning. The service, which officially debuts in April 2020, added new advertisers Discover, General Mills, T-Mobile, and Taco Bell, who join Quibi’s existing lineup of ad partners, Procter & Gamble, PepsiCo, ABInBev, Walmart, Progressive, and Google.

In addition to being an advertiser, T-Mobile only days ago announced a partnership with Quibi, as well.

Streaming - Service - T-Mobile - Roadmap - Reasons

The streaming service had cited T-Mobile’s “impressive 5G roadmap” as one of the reasons it went for the deal, but T-Mobile’s advertising contribution probably didn’t hurt either.

For an entirely unseen product, it’s notable that Quibi is already sold out for year one. That speaks to its ability to sell brands on its core concept — a sort of Netflix for the mobile era, where higher-quality content is chopped up into smaller bites (or “quick bites”), and viewable no matter how you hold your phone.

Advertisers - Spot - Quibi - Content - Streams

Advertisers are offered either a 6, 10 or 15-second pre-roll spot before the Quibi content streams. And unlike on YouTube, where some of the ads can be skipped after a few seconds — or removed entirely by way of subscription — Quibi’s ads won’t have a “skip” button. Quibi also hints at a unique offering for advertisers, saying that it will be “experimenting with a number of other innovative ad formats.”

In addition, Quibi is tackling one of the issues...
(Excerpt) Read more at: TechCrunch
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