Roku has acquired a non-existent library with the content of the streaming service, the company announced today. The content of the short form service will appear on the Roku channel for free at some point in 2021, although the company has not announced an exact date for its arrival. Roku did not disclose how much she paid for the content in her message, but The Wall Street Journal reports that he paid “significantly less” than $ 100 million for the performances. The deal was discussed earlier this month in a separate report from WSJ.
The acquisition of Quibi broadcasts and their placement exclusively within the Roku channel (free offer from the company) will be used to increase the viewing time of the platform and possibly increase the amount of inventory that Roku can sell. As competition in the hardware space increases, finding new steps above the competition – in this case original content – is a must.
Although Quibi’s content is designed primarily for mobile devices, it was previously possible to watch its content on TVs thanks to proprietary apps that were released for Apple TV, Android TV and Fire TV, albeit months after the service was launched. Quibi content can also be streamed to compatible TVs via AirPlay and Chromecast. The Roku website notes that the Roku Channel is available for Roku players, select smart TVs, mobile applications and the web.
Quibi content will be exclusive to Roku for the same two-year exclusivity window initially agreed with content creators, WSJ notes, after which Roku will retain the right to show the content until 2027. However, Roku will have to present the shows in their original form and will not be able to string multiple episodes in short form to create content of more traditional length.
The Roku deal comes after Quibi officially announced it would close in October after working for just over six months. The app failed for a myriad of reasons, although it managed to raise $ 1.75 billion in funding before it was launched, largely due to noise and deals from its top executives, former HP CEO Meg Whitman, and former Disney chairman and producer Jeffrey Katzenberg.
Disclosure: Vox Media has a deal with Quibi to produce the show and there were early talks about Verge show as well.
Updated January 8, 10:43 AM ET: Updated with the amount Roku reportedly paid for the shows and more details of the deal.