Looking to break through in a crowded streaming field, Jeffrey Katzenberg’s startup bought multiple TV ad slots on the Super Bowl and the Oscars following a splashy presentation in Las Vegas at CES. The return on that investment hasn’t fully materialized. In its first 90 days, during a free trial period, the streaming app was downloaded 5.6 million times, the company said last month. Only a small percentage of those downloads converted to subscribers paying $5 a month or $8 for an ad-free version.
While it disputes outside gauges of subscriber levels, calling one estimate of an 8% conversion rate of free trials to paid