Mammoth has long played in the mobile-first storytelling world, albeit in a very different form. Its flagship, is a successful short-form storytelling app that counts 18-25 year old females as its core demographic. Yarn partners engages its young audience with serialized fictional micro-tales in text format, but also adds video, audio and images - a content melange decidedly different than Quibiand related video only programming that costs up to $125,000 per minute to produce .
Yarn invites its audience to actively engage with its content, getting them hooked within the first 30 seconds and then lures them back in serially. Yarn also now monetizes beyond subscriptions, increasingly driving gamer-inspired spontaneous in-app content purchases. As a result, Benoit contends that Yarn is highly profitable.
“So far we have over 25 million downloads. Every single user we acquire is profitable within six months. Every single user.”fails to see how the same is possible with Quibi, with its much longer episodes and Hollywood-like mega development budgets. Four years of mobile-first content experience leads him to his two fundamental truths.
Quibi executives certainly have the luxury of time to find the optimal mix as a result of the the mammoth money raised by Katzenberg to date -at some point. But one thing’s for sure. Quibi’s vision, ambitions and resources stand alone. No direct “apples to apples” comparisons exist. Quibi representsfrom a man who has spent his career swinging for the fences.
We believe that with the right storytelling efforts, viewers will remain engaged!
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