Quibi to produce short-form video; Snap pushes for original content amid funding crisis; Insomniac launches new virtual reality game
Jeffrey Katzenberg and Meg Whitman’s new short-form television outfit will be called Quibi, short for “quick bites.” Katzenberg’s company, WndrCo, has been raising money for the project, originally called NewTV. Whitman, a former Hewlett Packard Inc. Chief Executive, WnderCo as CEO in January. As of August, the project had raised $1 billion from investors including the Walt Disney Co., 21st Century Fox Inc., NBCUniversal Media and Alibaba Group Holding Ltd. CNBC Technology reports Quibi will produce television shows broken into 10 minute chapters.
Snap Inc. announced plans to produce new original content, dubbing it Snap Originals. Established production houses such as Van Nuys-based Bunim/Murray Productions and DBP Donut will aid Snap in content creation, Socaltech reports. The effort is a result of Snap’s partnership with NBCUniversal and Viacom Inc., also announced Oct. 9. The Snap Originals announcement followed a searing Los Angeles Times report detailed Snap’s high cash burn rate.
Following the Oct. 10 promotional launch event of Florida-based Magic Leap Inc.’s new Magic Leap One augmented reality headset, Burbank-based game developer Insomniac Games Inc. debuted a new demo of an AR game. Called “The Seedling,” Insomniac’s game allows players to take care of a plant in the midst of a galactic war to destroy vegetation. VentureBeat reports the new game is part of Insomniac’s plan to become a leader in AR and virtual reality game platforms.