What does this tell us about the streaming market?Firstly, that it is fiercely competitive. The number of subscription-based streaming services are so many, it has begun to resemble the cable TV model which it was trying to replace. HBO, NBC, Disney, Hulu, Netflix, Amazon, Apple. And this doesn’t even count non-American services- important since streaming is a global market. Whether users would pay for one more service like Quibi without obvious quality upfront, was always in doubt.Unlike some sectors, you also cannot throw money at the problem. None of Quibi’s billions raised came to its rescue, when its shows simply weren’t working and the user base was far lower than expected.And lastly, while TikTok is a breakthrough success, its success is extraordinarily hard to replicate, as many Indian startups are finding out after TikTok was banned in India. Just replicating the short-form video thesis is simply not enough. Although Quibi was not a social media platform, it … [Read more...] about Explained: Quibi was supposed to be entertainment’s next big thing. Why is it shutting down?