'We're going up on a high wire and there's no safety net underneath it,' says the founder of the upcoming short-form video streamer that is paying top dollar and making star-friendly deals to counter questions about whether consumers will respond.
"We're going up on a high wire and there's no safety net underneath it," says the founder of the upcoming short-form video streamer that is paying top dollar and making star-friendly deals to counter questions about whether consumers will respond.
Katzenberg, 68, has had a long career in Hollywood, orchestrating a turnaround at Disney and growing DreamWorks Animation into a $3.8 billion business that sold to NBCUniversal in 2016. But Quibi might be his riskiest move yet. Amid the war for streaming dominance raging among Netflix, Disney, Amazon, WarnerMedia, NBCUniversal and Apple, in which treasured franchises likeare the battle spoils, Katzenberg is taking a decidedly different approach.
So why are some of those same skeptics waiting in line for a Quibi paycheck? Always eager for another buyer, Hollywood has begun to recognize Quibi as a deep-pocketed new home for a certain kind of project. "I love the idea of creating chapter breaks [that end] with a scare and a cliffhanger," explains Van Toffler, the CEO of independent studio Gunpowder & Sky who is producing horror anthologyfor Quibi with Sam Raimi and Tony DiSanto.
Quibi's deals also are talent-friendly. The company is licensing content for seven years, meaning the studio or production company behind the project retains ownership rights. And after two years, the rights holder can repackage those 10-minute chapters into a TV show or film and take it back into the market.
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