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Quibi Books $100M In Advertising, Two Thirds Of Its Launch-Year Inventory

Dade Hayes

Quibi, the mobile video platform steered by Jeffrey Katzenberg and Meg Whitman, has announced it has sold two-thirds of its $150 million in advertising inventory for its first year.

The company will launch its service in April 2020. In an appearance at Cannes Lions, Quibi said ad buyers include Procter & Gamble, PepsiCo, ABInBev, Walmart, Progressive and Google.

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Eschewing connected TV apps or smart TV distribution, Quibi is focusing entirely on mobile devices, promising brand safety to advertisers, as well as a custom platform capable of luring elusive millennial viewers.

Marketers buying inventory in Year One will have category exclusivity, Quibi said. Their messages will be featured in a single, non-skippable 6-, 10- or 15-second pre-roll before Quibi content. Other ad formats are also in the offing.

“We are building a robust, premium technology platform from the ground up that brings together the best of Silicon Valley and Hollywood,” said Whitman, who is CEO of Quibi, “We are thrilled to have six iconic brand launch partners who will help us create the most innovative mobile video platform for brand advertising – one that advertisers will love from the very beginning.”

Katzenberg, founder and chairman of Quibi, declared the new platform will offer“the highest quality premium content from the world’s best storytellers” and targets “the millennial audience advertisers want to reach.”

“Quibi is exactly the kind of breakthrough platform that P&G brands want to work with to reinvent advertising,” said Marc Pritchard, P&G Chief Brand Officer.  “Quibi creates a new-to-the-world content and ad experience which is better for the consumers we serve, and P&G brands are thrilled to be among the first launch and advertiser partners.”

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