Quibi's Board Choices Include Conde Nast CEO

• by Karlene Lukovitz  @KLmarketdaily, June 17, 2019

Jeffrey Katzenberg is set to introduce mobile, short-form video platform Quibi to the advertising community in formal fashion on Wednesday, during this week’s Cannes Lions International Festival of Creativity.

Meanwhile, Quibi has announced that in addition to cofounders Katzenberg and Meg Whitman, former CEO of eBay and Hewlett Packard, its board of directors will include Roger Lynch, CEO of Condé Nast and former CEO of Pandora; Mellody Hobson, president of Ariel Investments and former chairwoman of DreamWorks Animation; Ann Daly, cofounder at WndrCo Holdings and former president of DreamWorks; Harry “Skip” Brittenham, founding partner of Ziffren Brittenham LLP; and Greg Penner, founder of Madrone Capital Partners and chairman of Walmart.

Fortune broke the story.

In a statement, Katzenberg described the board choices as “innovative thinkers” who know the tech and entertainment industries “can come together to reimagine how we tell original stories and create the next era of entertainment.”

Set to launch in April 2020, Quibi has attracted $1 billion in funding from Viacom, Disney and other investors since it began development last year.

The streaming service, which will be available only on mobile phones, will charge users $4.99 per month for content with advertising, and $7.99 without advertising.

The premium content — Quibi has said it will pay up to $125,000 per minute for some scripted programming — will include serialized programming from high-profile directors, including Paul Feig, Steven Soderbergh and Guillermo del Toro (“The Shape of Water”). Series will feature stars such as Idris Elba. There will also be short, thrice-daily personalized news programs.