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Quibi Executives Taking Pay Cuts Because “It’s The Right Thing To Do” After Tepid Launch

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theplaylist.net
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It’s common knowledge that the April launch of Quibi didn’t go as well as the company had hoped. After a first week where the app was downloaded millions of times, the new streaming platform that focuses almost entirely on mobile viewing quickly plateaued and fell out of the Top 10 download lists on mobile devices.

On iTunes, the app isn’t even amongst the top 50. Needless to say, for a new company that has gained more than $1 billion in funding, this type of mediocre launch amidst a crowded streaming playing field is not ideal.

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