So Quibi is a disaster right now.
The idea for a new short-form premium video has potential, but the execution has been lackluster.
I’d like to see them succeed so here is how I would fix it.
They still have $750M to figure it out.
Problem: TikTok is too damn addictive
Solution:
- Lobby the US government to ban TikTok.
- Easy win here.
Problem: Expensive disappointing content
Solution:
- It takes time to figure out a new format. Conserve cash.
- Test different types of content & double down on what works.
- Bet on YouTube/TikTok/Insta influencers that get internet content.
Problem: No one cares about your new format
Solution:
- Stop showcasing the format. The content is all people care about.
- Focus on promoting the best shows.
- Stop limiting screenshots and casting to TVs. Make it fun.
Problem: Everyone is rooting against you
Solution:
- Be the David to Netflix’s Goliath & act like it. Stop competing directly.
- Throw money at influencers that haven’t yet gotten a chance. Their followings will love you for it.
- Be different. No more mediocre shows with big stars
Problem: Need more subscribers
Solution:
- Make content with existing fan bases - nostalgia & influencers
- Free tier to bring in more people. Easier to upsell later.
- Figure out pricing after you have a large audience & great content.
Problem: Execs are far outside the target demographic
Solution:
- Bring in younger creative talent and let them run.
- Take more risks. A little controversy wouldn’t hurt.
- Trust your team to perform.