BBC Studios backs Katzenberg’s Quibi

BBC Studios in the UK has become the latest company to invest in Jeffrey Katzenberg’s forthcoming shortform streamer Quibi.

Jeffrey Katzenberg

The commercial and production arm of the UK pubcaster has followed its commercial rival ITV in investing an undisclosed sum in the mobile-focused business from the former DreamWorks Animation CEO.

Earlier this month, BBC Studios got its first order from the start-up service, with its Natural History Unit working on Fierce Queens, a blue-chip series exploring nature’s phenomenal females.

Quibi, led by former eBay and Hewlett Packard exec Meg Whitman as CEO, is due to launch in April 2020. It has been staffing up and commissioning content ready for that debut, with a content budget for its first year reportedly in the region of US$1bn.

Budgets of up to US$6m per hour will be on offer, with the service being specifically built for “on-the-go mobile viewing” and featuring episodes of no longer than 15 minutes.

Previous backers of the business, formerly known as NewTV, include Liberty Global, Disney, NBCUniversal, WarnerMedia and Lionsgate.

Financial terms of the BBC investment were not disclosed. The news of BBC Studios’ investment was first reported by UK trade title Broadcast.