Quibi founder Jeffrey Katzenberg. Photograph by Stuart Isett for Fortune Magazine, under Creative Commons license

Quibi, the recently-debuted video streaming service from Hollywood veteran Jeffrey Katzenberg, is on pace to have 2 million paying subscribers by the end of its first year, which is well short of a target of 7.4 million, as first reported by the Wall Street Journal. Data from analytics firm Sensor Tower also indicates that Quibi’s app download figures have been falling in recent weeks. Citing an unnamed person familiar with the matter, the Wall Street Journal reports Quibi is pacing behind its initial projections for user sign-ups. The Journal also reported of initial management conflicts between Quibi founder Jeffrey Katzenberg and CEO Meg Whitman, conflicts that appear to have been resolved.

The news of job cuts at Quibi comes on the heels of reported — albeit tiny — job cuts at the company.