Streaming Service Providers

Streaming service Quibi said on Wednesday it intends to wind down its operations and start a process to sell its assets, just six months after its launch. The announcement highlights the dominance that Netflix, Amazon’s Prime Video, Disney+ and Apple TV+ hold over smaller streaming service providers, which struggle to keep up against their large content budgets and vast libraries of shows. “The world has changed dramatically since Quibi launched and our standalone business model is no longer viable,” founder Jeffrey Katzenberg said in a statement. Los Angeles-based Quibi offers entertainment and news in episodes of 10 minutes or less on mobile phones, initially promoted for on-the-go viewing. The service was priced at $5 a month with advertisements, or $8 a month without them. “Our failure...