Quibi sells out US$150 million first-year ad inventory six months ahead of launch

In the latest sign of Quibi’s financial clout, the company has announced that it has already sold out of its US$150 million first-year advertising inventory before the service has even launched.

The short-form streamer is set to officially debut in April 2020 and is being led by founder Jeffrey Katzenberg and CEO Meg Whitman.

The company has announced that it has added Discover, General Mills, T-Mobile and Taco Bell as advertisers. They join the existing lineup of Procter & Gamble, PepsiCo, ABInBev, Walmart, Progressive and Google.

Advertisers have been offered either a six, 10 or 15 second pre-roll spot before content starts playing. In a move that is sure to frustrate users, ads are unskippable, unlike many of those that are shown before videos on YouTube.

Also unlike YouTube, Quibi is a tightly regulated and moderated platform that will not have risk the presence of unsavoury and extremist content.

Whitman said: “We are seeing a tremendous response from advertising partners who recognize the value of Quibi’s premium, brand-safe, mobile platform that is focused on the highly coveted millennial audience. The world-class brands that are partnering with us in advance of our launch is remarkable, and it speaks to the opportunity in front of us.”

It is unsurprising that T-Mobile is one of the advertising partners following the announcement from earlier this week that Quibi has signed an exclusive wireless distribution deal with the mobile operator

The service will not be exclusive to T-Mobile customers in the US, though it is thought that the operator will promote Quibi heavily within its own service and offer discounts to its customers.

T-Mobile might even decide to offer Quibi for free to its customers, a move made by Verizon which yesterday announced a deal with Disneyto offer the Mouse House’s upcoming Disney+ SVOD for free to its 4G LTE, 5G unlimited, 5G home wireless internet and Fios broadband customers.