Pritchard drops by to discuss Quibi’s advertising ecosystem
When P&G’s Marc Pritchard made a “surprise guest appearance” during Raising The Bar On The Small Screen session yesterday, the Grand Auditorium audience knew the new mobile-first platform Quibi being discussed could have an enduring future.
Quibi, which stands for Quick Bites and will feature premium-quality snackable episodic series of not more than 10 minutes each, is predicted to be the future of entertainment.
It is the new $1bn-plus subscription and advertising-funded mobile video platform launching in April 2020. It was founded by former Hollywood mogul Jeffrey Katzenberg, who was on stage with Meg Whitman, Quibi’s CEO and former boss of global tech brands Hewlett Packard and eBay, to disclose the service’s advertising elements.
The first committed marketers are P&G, Walmart, PepsiCo, Google, AB InBev and insurance corporation Progressive.
“Quibi will be a brand-safe environment because there is no user-generated content on it. We believe 75% of the millennials we’re targeting will opt to watch the advertising because we will give advertisers an opportunity to be involved from the ground up,” Whitman said.
The short unskippable ads will include some that are 60-second original content broken into four parts with storylines that develop with each viewing.
“Marc has given us some incredible ideas,” Katzenberg added. “We’re taking the ecosystem of hot Hollywood content and bringing that into new consumption habits that will evolve from watching premium shows on-the-go during your day.”
Pritchard also noted: “Our media and advertising worlds have been disrupted and we are trying to get ahead of the disruption. Now we’re going to create advertising that is organic to the experience.”
The session was moderated by MediaLink CEO and chairman Michael Kassan.