Quibi was interesting - the more I think about it (I work in this space) the more I think they actually might have had something.
The reason they failed is mostly because they went too big too fast. They spent almost a billion dollars in content at launch and expected to get a ton of people subscribed quickly at $8 a pop. Had a bit of a chicken and egg situation there. They needed enough quality content to justify that amount per month. But it was all new, untested content. When they didn't get the subscribers they had pretty much zero runway to ride it out and iterate.
The reason they failed is mostly because they went too big too fast. They spent almost a billion dollars in content at launch and expected to get a ton of people subscribed quickly at $8 a pop. Had a bit of a chicken and egg situation there. They needed enough quality content to justify that amount per month. But it was all new, untested content. When they didn't get the subscribers they had pretty much zero runway to ride it out and iterate.