Quibi Signs Up Six Major Brands For iPhone Movies & TV

The short-form video streaming service Quibi has signed up six major brands to launch the service. Its co-founder Jeffrey Katzenberg and CEO Meg Whitman made the announcement at the Cannes Lions show in France this week. The companies involved include Procter & Gamble, PepsiCo, Anheuser-Busch, Walmart, Google, and the London School of Economics. A year before the service’s scheduled 2020 launch, the company has already sold $100 million worth of advertising inventory.

In an open letter to employees, investors, and partners, Quibi’s co-founders told employees, partners, and investors that the company is shutting down. They would be working to find a buyer for the company and continue to provide its services to users. In the letter, they said that the app will remain available until April 6, 2020, and that they would also look for additional funding. They hope to be back to launch the service again in the future.

The content offered on the service is available in three categories: movies, unscripted, and documentary. Scripted series include #Freerayshawn and The Most Dangerous Game, which won two Creative Arts Emmys for acting and writing. A new series will premiere every Monday. Originally, Quibi planned to offer 175 original shows, but ended up releasing eight thousand episodes in its first year. It has a wide variety of programming, and expects to post new episodes every day.