Looking for something new to stream on your couch? Quibi is joining the market

by Hanna Horvath
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Looking for something new to stream on your couch? Quibi is joining the market

By now, many companies across the country have asked their employees to work from home due to the COVID-19 crisis. While your workflow may not have slowed down, your social calendar probably has. So if you’re looking for new things to stream from your couch, there’s a new platform on the market: Quibi.

The short-form, mobile-friendly streaming service debuts April 6. The Los Angeles-based company has already raised $1.75 billion in funding for the app. But will it survive? Its popularity heavily relies on original A-list celebrity programming and 10-minute clip format.

So what exactly is Quibi? And why should you care about it?

Quibi: The 10-minute movie platform

What sets Quibi apart from the pack is its 10-minute or less episode structure. The service offers mini movies broken into “chapters,” TV series and news programs. Show options include a thriller starring Liam Hemsworth and Christopher Waltz, or a reality court drama series starring Chrissy Teigen. NBC, CBS and ESPN are also offering daily news shows on the app.

How much will Quibi cost?

Quibi’s all-original platform will cost $4.99 per month with ads and $7.99 a month without ads. An annual subscription would cost close to $60 per year. If you sign up online before the April 6 debut, you can get 90 days free. Quibi is available for pre-order in the Google Play store and the Apple App Store.

To get access to all of your favorite shows, you may have multiple subscriptions — and paying hundreds of dollars a year. Quibi’s annual cost is significantly cheaper than its streaming competitors. Here’s a look at what it costs to have some of the more popular streaming services each year.

  • Netflix (Standard) — $156
  • Hulu (No ads) — $144
  • Amazon Prime — $119
  • HBO Go — $180

A viewer who is subscribed to all the streaming services listed above, including Quibi, would pay $659 annually.

If you’re looking to unplug while you’re social distancing, here are 15 books about money that can boost your finances

You may be watching a lot more TV now. Here’s how to keep costs down.

If adding another streaming service to your subscription list is too much financially, there are some easy ways to cut back.

The first step involves canceling one or two subscriptions, especially if you are considering subscribing to an additional service like Quibi. You don’t have to cut ties with Netflix if you watch “Schitt’s Creek” every day, but trimming some fat can save you alot in the long run.

Can’t seem to give any of them up? Search your bank and credit card statements for zombie subscriptions. Examples of this are gym memberships or other subscription services you're still paying for but stopped using a while ago.

Lastly, go through old recurring charges, like utility bills, to check if your rates have gone up and try to negotiate them down. There are plenty other ways to "find" an extra $60 in your annual budget.

If you don’t know where to start, check out this list of 25 ways you can start saving right now.

Image: Plus Design Studio