Streaming service Quibi is beginning to feel the pinch of its lackluster performance since launching last month, as major advertisers seek to defer payments and the company looks to cut costs, according to people familiar with the situation.

The advertisers, which include PepsiCo Inc., Yum Brands Inc.’s Taco Bell, Anheuser-Busch InBev SA and Walmart Inc., have asked for the changes because of concerns about the service’s low viewership or the impact of the coronavirus pandemic on their businesses, one of the people said.

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