Quibi has booked $100 million in ad sales ahead of its 2020 launch, with Procter & Gamble, PepsiCo, Anheuser-Busch, Walmart, Progressive and Google onboard. Jeffrey Katzenberg and Meg Whitman were at Cannes Lions to share news about their upcoming short-form digital service, and revealed that an hour of Quibi content will be divided into chapters and include about two and a half minutes of advertising (versus seventeen and a half minutes on broadcast TV). “The opportunity exists for us to do something really new and differentiated and is going to create a new consumption habit,” said Katzenberg. The expectation is that about 75% of subscribers will opt for the service’s $4.99/month ad-supported offering. The ad-free service will set viewers back $7.99/month.
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