NEW YORK (AP) — There's yet another new streaming service coming in the next year.

Quibi's twist is that it's focused on short videos for cellphones. Spokeswoman Gina Stikes confirmed Monday that Quibi will launch in April 2020 and cost $5 a month with ads and $8 a month without ads.

It's run by big names — Jeffrey Katzenberg, the former Disney chairman and co-founder of DreamWorks Animation, and Meg Whitman, the former head of eBay and Hewlett-Packard — and it has attracted top Hollywood stars to make videos. It has raised $1 billion to pay for content and expects to raise $500 million for business purposes including marketing.

It would enter an increasingly crowded market of subscription streaming video services , including upcoming offerings from Disney , Apple and AT&T.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Thank you for reading the Daily Journal.

Please purchase an Enhanced Subscription to continue reading.Please log in, or sign up for a new account and purchase an Enhanced Subscription to continue reading.