6h20 PST 1/8/2021
in
Natalie Jarvey
The agreement adds 75 programs from the now-defunct mobile video service to the free ad-supported programming line on the Roku Channel.
Roku has agreed to acquire the programming library of the now-defunct mobile video startup Quibi, as it plans to increase its free and advertising Roku channel hub.
The deal means that more than 75 shortform programs like Veena Sud The weird and Liam Hemsworth starrer Most Dangerous Game will continue to have a home despite Quibi’s closure last year. More than a dozen programs that were filmed and completed for Quibi, but not released before its closure, will also be made available to viewers for the first time on Roku, which will distribute them in the United States, Canada and the United Kingdom
Roku and Quibi did not disclose the terms of the agreement, but a source familiar with the agreement says that he values the content library at less than $ 100 million.
“We are thrilled that these stories, from the surreal to the sublime, have found a new home on the Roku Channel,” Quibi founder Jeffrey Katzenberg said in a statement.
Quibi was launched in April as the life pandemic of many Americans. Its central concept, that people wanted to watch a short, expensive schedule on the go, was difficult to test when people were sheltered at home. The service, which was only available on cell phones and did not support connected TVs at launch, had a hard time attracting subscribers from the start. Katzenberg and Quibi CEO Meg Whitman announced just six months after they would close the app and return the money to investors. They have been looking for a buyer for the Quibi library ever since.
Roku has been aggressive in building its media business in recent years to lessen its dependence on set-top box sales. The schedule will help Roku build the content offering for the three-year old Roku Channel, where it aggregates the programming of various entertainment apps that live on its platform. The channel reaches almost 62 million people, according to the company, and is one of the top 10 channels on its platform in terms of hours of streaming and total active accounts.
Roku is not revealing how he will present Quibi programming to viewers within the Roku Channel. All programs – which were previously offered for a subscription – will be free for the viewer with advertising.
Although Quibi became the target of jokes due to his poor performance, several of his programs were nominated for the shortform Emmy in 2020 and the drama produced by Antoine Fuqua #FreeRayshawn took home two trophies from the show. “We think they created great content,” said Roku vp programming Rob Homes in an interview. The executive adds that much of the programming “will be new to the vast majority of viewers”.
Roku is adopting Quibi’s existing licenses for the programs. The service, in an attempt to attract top talent, has signed exclusive deals with creators. After two years, they would have the opportunity to transform the short films into a film or a long TV series. After seven years, the rights would be fully reverted to the owner of the studio. Holmes declined to offer details of how these deals would be implemented in Roku’s new deal.
Although Quibi’s programs were designed for mobile viewing, Holmes says he expects them to play well in Roku’s TV-centric experience. “It’s just TV,” he says, sharing that he has enjoyed watching a cooking competition show Disassembled with your children. “If you are in a quiet environment, you can let it go. In fact, it works very well for commercial breaks.”