Roku Acquires Quibi Content

Roku is in talks to get short-form video service content. However, no one has made the financial terms public.

Roku acquires Quibi
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Quibi is no more, however, all of its shows will live on.

Last week, the Wall Street Journal stated that Roku was in talks to get the short-form video service’s content. This morning, Roku made the announcement that it has reached a deal for distribution rights to all Quibi’s programs. Roku has been quite successful and it introduced a kid and family section recently.

However, Roku hasn’t made the terms of the acquisition public. Moreover, Roku has stated that it’s made its ads available for free with ads on The Roku Channel. However, dozens of programs are making their debut on The Roku Channel. In other words, the company created them but they weren’t released due to the shutdown of the app.

“The announcement is a rare opportunity to acquire the original content that has the biggest names in the entertainment industry,” said the Vice President of Programming Rob Holmes in a statement, “We are excited to make this content available to our users in The Roku Channel through an ad-supported model. We are quite excited to welcome the incredible studios.”

Although Roku is best known for its streaming software and TV devices, advertising is a big part of the business. And The Roku Channel has reached 61.8 million U.S. viewers in the fourth quarter of last year.

Meanwhile, Quibi has announced that it has shut down in October, six months after its launch. The service mainly focuses on creating video episodes that lasted around 10 minutes or less.

In their farewell note, the executives Meg Whitman and Jeffery Katzenberg stated that the service failed due to bad timing, and “the idea wasn’t quite strong to justify the standalone streaming service.”
The biggest minds in Hollywood created amazing content for Quibi that went beyond our expectations.”

Quibi logo
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It’s also worth noting that initially, the service focused just on mobile viewing. Eventually, that changed, with the addition of the Airplay support. Now, with the acquisition of Roku, it seems that people will watch the show on TV. We are quite excited to make incredible studios and amazing individuals. They brought all the stories to life.”

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