Quibi claims $750MN funding round as it inks ESPN carriage deal | Mobile | News | Rapid TV News
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Only weeks before its 6 April launch, the Quibi millennial-focussed short-form premium mobile TV streaming service is said to have received a huge cash injection that brings its total pre-launch funding to $1.75 billion.

TR logo 5March2020Founded by former Disney chairman Jeffrey Katzenberg and ex HP and eBay CEO Meg Whitman, Quibi has committed to spending in its first year over $600 million on content covering scripted and original entertainment, sports and news. It has already inked deals with the likes of NBCUniversal, and its Spanish-speaking subsidiary Telemundo, The Weather Channel and now ESPN.

According to reports in the Wall Street Journal, the service has closed a second round of financing worth $750 million, bringing its total investment to $1.75 billion. Quibi added that $400 million of this figure had been acquired at the end of 2019 and did not disclose who the investors were or the full value of the streamer.

What is known though ae the full details of the relationship with sports broadcaster ESPN whose original mobile-only daily show The Replay will be available exclusively on Quibi on 6 April.

ESPN will be the exclusive US multi-sport content provider for Quibi’s Daily Essentials and The Replay will feature daily episodes and breaking news covering the biggest stories in sports. At launch, daily 5-7 minute episodes will be available each morning, giving Quibi knowledge of the world of sports to start their day. The Replay will emulate ESPN’s renowned SportsCenter but with a millennial twist. Each show will feature highlights of the night presented through quick-pace editing that is claimed to educate, entertain and surprise fans.

ESPN’s Nabil Karim will host the show, and will be joined by Ashley Brewer, who joins ESPN from ABC7 Los Angeles where she most recently served as sports anchor and entertainment host, along with ESPN’s Sebastian Salazar.

The Replay will combine ESPN’s attitude and expertise with Quibi’s innovative approach, resulting in a new format that will entertain, inform and connect with the Quibi audience on a daily basis,” commented ESPN EVP of content Connor Schell.