Only 8% of 910,000 users who signed up for Quibi’s free 90-day trial in the first three days after the mobile streaming service launched back on April 6 have decided to pay the $4.99-a-month freight, according to data released by app analytics firm Sensor Tower.
The 8% conversion rate is respectable. Disney Plus, which is broadly considered to have one of the more successful OTT product launches in recent memory, converted only 11% of its initial signups into paying customers.
The difference: Disney Plus signed up a much larger trial pool of users—nearly 10 million—in its first few days on the market.
Quibi has said that 5.6 million users have downloaded its app since its launch—the service moved from a 90-day-free promotion to a 14-day trial in late April.
The startup told Variety that the Sensor Tower estimate is “incorrect by an order of magnitude.”
Quibi, which has been backed by $1.75 billion in private investment, is targeting around 7.4 million paid users upon the completion of its first year in business.
“I’m still quite optimistic this is gonna work,” Quibi founder Jeffrey Katzenberg said at a digital conference last month.
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