Roku announced on Friday that it had acquired Quibi’s content library, almost three months after the end of the reduced video streaming service.
The companies did not disclose the financial terms of the deal.
Starting this year, Roku will make Quibi content available for free with ads to all Roku users. In addition to the content that has already aired on Quibi, Roku has the right to broadcast more than a dozen non-broadcast programs from the company. Roku’s own streaming app offers a lot of free content for streaming with advertising support, a growing part of the company’s business outside of hardware device sales.
Quibi failed to gain momentum when it was launched at the beginning of last year. The company, which closed in October, pointed to a convergence of factors that led to its failure. Roku, meanwhile, experienced rapid growth amid the Covid-19 pandemic. The company said it doubled its domestic reach year after year in the fourth quarter of 2020.
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