Short-form digital service Quibi has already secured around $100M in advertising with six high-profile launch brands launching on the service. Jeffrey Katzenberg and Meg Whitman took their Quibi roadshow to the Cannes Lions event in France to announce the ad sales, coming ahead of its 2020 launch.
Procter & Gamble, PepsiCo, Anheuser-Busch, Walmart, Progressive and Google are the first companies to sign up with “category exclusivity”.
Katzenberg said that an hour of Quibi content, which will be broken up in to chapters, will include around two and a half minutes of advertising, compared to around 17 and a half on broadcast television and ten on Hulu.
Whitman said that she expects around 75% of its subscribers to pay for its advertising-backed tier, which is available for $4.99 per month, rather than its ad-less top tier.
Other revelations to emerge from the latest presentation from the pair include the fact that around 161 people will be working on Quibi by the end of next week with 25 content executives.
Katzenberg agreed that the roll out of 5G technology would be a boon for the short-form service, which has already signed up the likes of Steven Spielberg and Steven Soderbergh to make content. “Every trend right now is putting more wind into the sails of Quibi,” he said.
Whitman added that it was not planning to become a “studio” but rather a “commissioner” of content with a focus on technology, including the ability to change the brightness of the screen through the app, audio optimization, new style of end credits and a speedy search function and increased personalization.
“From the beginning, this has to be the combination of the best of Hollywood and the best of Silicon Valley,” she said.