Quibi only managed to convert roughly eight percent of its early wave of users into paid subscribers, according to Sensor Tower. When the app launched, it initially signed up about 910,000 users in its first three days, out of which "a maximum of" 72,000 subscribers stuck around after the three-month free trial expired.
It's important to understand that this is not the total number of Quibi's users, as it accounts for the first three days of sign-ups. Comparatively, 9.5 million people downloaded Disney+ in the first three days of sign-ups, with roughly one million users subsisting with the service after the expiration of the 7-day free trial (11% conversation rate).
Sensor Tower also estimates that Quibi has been downloaded a total of 4.5 million times since April 6. The service switched from a three-month free trial to a 14-day free trial in an attempt to gain momentum. A Quibi spokesperson told The Verge:
“The number of paid subscribers is incorrect by an order of magnitude. To date, over 5.6 million people have downloaded the Quibi app. Our conversion from download to trial is above mobile app benchmarks, and we are seeing excellent conversion to paid subscribers — both among our 90-day free trial sign-ups from April, as well as our 14-day free trial sign-ups from May and June.”
Quibi comes with a two-tier pricing system: $4.99 with ads, $7.99 without, which is competitive with other streaming services like Netflix, and Amazon Prime; however, the service doesn't have the same brand recognition when compared with its competitors, which may account for relatively fewer sign-ups at the start.