Mobile streaming service Quibi reportedly lost around 92 percent of its early users after its free trial period ended, according to data from Sensor Tower.
The firm’s report states that around 910,000 users signed up for the platform in the first few days of its launch in April. Of this number of early users, only around 72,000 remained after their free trials ended.
This means that Quibi had an 8 percent conversion rate of early free users into paying ones. When compared to other streaming service early debuts, Quibi’s conversion rate falls short.
For instance, Disney was able to convert 11 percent of its 9.5 million early free users in the U.S. and Canada into paying customers. The streaming service has since continued to see growth, especially due to its international expansion, and now has more than 50 million users.
It’s important to note that the numbers from the report don’t indicate how many paying subscribers Quibi currently has because it looks at the early days of the service’s launch. Quibi has said that more than 5.6 million people have downloaded the app.
Qubi told The Verge in a statement that “the number of paid subscribers is incorrect by an order of magnitude. Our conversion from download to trial is above mobile app benchmarks, and we are seeing excellent conversion to paid subscribers.”
Regardless of the actual number, it’s no secret that Quibi has had a tough launch, especially since the co-founder of the service himself, Jeffery Katzenberg, stated that the COVID-19 pandemic was to blame for the platform’s rough launch.
The company faced some issues at the start, where users were complaining about the lack of casting support or not being able to take screenshots of the content.
Source: The Verge