Quibi, the video startup founded by Hollywood mogul Jeffrey Katzenberg, said a report that it lost 92% of paying subscribers after their free trials expired is “incorrect by an order of magnitude.”
The company said 5.6 million people downloaded the Quibi app and that it is “seeing excellent conversion to paid subscribers,” without saying how many. A report from analytics firm Sensor Tower Inc. estimates that only 72,000 of people who signed up for a 90-day free trial of Quibi in the first three days after it launched stuck with the app.
