Sony, 21st Century Fox, WarnerMedia, Alibaba, Walt Disney and Entertainment One are among the investors that had supplied $1.75bn for the short-form streaming service.
US-headquartered Quibi confirmed yesterday it is winding down its online streaming service despite raising $1.75bn from investors including corporates Alibaba, Sony, 21st Century Fox, Walt Disney, WarnerMedia and Entertainment One.
Quibi’s platform centred on episodic shows with episodes up to 10 minutes in length but made with similar per-minute budgets as shows on streaming services such as Amazon Prime Video or Netflix.
The service was launched in April this year but failed to get near its subscriber target, partly due…
