According to numbers from analytics firm Sensor Tower, 90% of those who signed up for Quibi with its 90 day free trial at launch have ended their subscription before converting to a paid subscription, as reported by The Verge.
Quibi launched on April 6, offering a three month free trial which 910,000 people signed up for. Sensor Tower is now showing that only 72,000, around 8%, of those users kept their subscription after the trial.
These numbers are only from the initial wave of signups that came with the free trial, not those who signed up for a paid subscription later. Sensor Tower estimates that Quibi has seen 4.5 million downloads in total. While Quibi hasn’t released official numbers, the company claims the app has been downloaded by over 5.6 million people.
A Quibi spokesperson gave this statement to The Verge: “the number of paid subscribers is incorrect by an order of magnitude. To date, over 5.6 million people have downloaded the Quibi app. Our conversion from download to trial is above mobile app benchmarks, and we are seeing excellent conversion to paid subscribers — both among our 90-day free trial sign-ups from April, as well as our 14-day free trial sign-ups from May and June.”
Originally, the mobile-first streaming service projected a 7.4 million subscriber count within its first year. By June, a report showed that Quibi was set to reach just two million paid subscribers, 5.4 million short of its goal. Jeffrey Katzenberg, founder of Quibi, blamed coronavirus for the app’s rocky start.
Quibi costs $4.99 monthly with ads or $7.99 per month without ads and is included with T-Mobile’s unlimited family plans.
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