Quibi Converts Just 8% Of Free Trials To Paid Subscriptions, Report Says; Company Rips It As “Incorrect By An Order Of Magnitude”
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deadline.comDade Hayes Finance EditorQuibi, Jeffrey Katzenberg’s beleaguered mobile streaming startup, got 910,000 people to sign up for free 90-day trials upon its April launch, according to new data from research firm Sensor Tower.The bad news, according to the company: Only 72,000 subscribers stuck around and decided to pay $5 a month (or $8 without ads) for the service, out of 4.5 million total downloads of the app.
That conversion rate, around 8%, does not bode well as Quibi battles its way through COVID-19 and a crowded streaming field.But the well-funded, lavishly marketed company is pushing back on the subscriber numbers, saying the correct number of total downloads is 5.6 million.
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