Roku buys library of the short-lived streaming service Quibi
Roku is buying short-lived streaming service Quibi’s content library to bolster content for its free Roku Channel
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Roku is buying the content library of Quibi, the short-lived streaming service to bulk up its own free ad-supported channel.
Quibi, short for quick bites raised $1.75 billion from investors including major Hollywood players like Disney, NBCUniversal and Viacom. It produced shows that were released in 10- to 12-minute increments or less, believing that there was strong demand from people stuck doing anything from waiting in lines to commuting.
But it stepped into a market already saturated with short videos from YouTube, TikTok and other platforms, and that content is essentially generated free of cost.
Quibi also launched in April 2020, when a global pandemic scrambled the routines of millions, including commutes to work. It shut down last month.
Roku created its business solely as a hub for other streaming services, but has recently begun piling up content for its free Roku Channel
With the acquisition, Roku will acquire staccato-style programming with some very big names attached. Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen and Lena Waithe have all been in Quibi shows. It will also air more than 12 shows that never aired on Quibi before it was shuttered.
Financial terms were undisclosed Friday.