Quibi announced Tuesday it has sold out of its $150 million first year advertising inventory. Set for an April 2020 launch, it has also added Discover, General Mills, Taco Bell and T-Mobile as new brand partners.
The mobile-only streaming service has greenlit dozens of shows from a number of big stars, including Justin Timberlake, Jennifer Lopez, Tyra Banks, Don Cheadle, Stephen Curry, Anna Kendrick, Idris Elba, Lorne Michaels and Seth Meyers, among others. The Los Angeles-based company that comes from DreamWorks co-founder Jeffrey Katzenberg and business executive Meg Whitman recently added a horror anthology series that will feature “Marvelous Mrs. Maisel” star Rachel Brosnahan and Christina Ricci.
“We are seeing a tremendous response from advertising partners who recognize the value of Quibi’s premium, brand-safe, mobile platform that is focused on the highly-coveted millennial audience,” Whitman said. “The world-class brands that are partnering with us in advance of our launch is remarkable, and it speaks to the opportunity in front of us.”
Quibi shows will only be available on mobile devices, with each episode running no longer than 10 minutes. The app will cost viewers $4.99 per month for ad-supported viewing, or run $7.99 for ad-free viewing when it debuts next spring.
Read original story Quibi Sells Out $150 Million First Year Advertising Inventory Ahead of April 2020 Launch At TheWrap