Roku snapped up the rights to the majority of Quibi’s multimillion-dollar portfolio original programming — more than 75 shows in all — and will make them available free to stream in 2021 on the Roku Channel.
Following Quibi’s decision last October to shut down after failing to attract a sustainable base of subscribers, Roku acquired Quibi Holdings LLC, the company that holds all of Quibi’s content distribution rights.
Financial terms of the pact were not disclosed. A source familiar with the agreement said Roku is paying “significantly” less than $100 million for the Quibi library, confirming an earlier Wall Street Journal report. Rob Holmes, Roku’s VP of programming, said in an interview, “We do think this deal represents a great value.”
“Fundamentally, we think that Quibi has created great, high-quality content,” Holmes told Variety. “It’s a great value proposition for our users… We’re pivoting from Quibi’s SVOD model to an ad-supported model,...
Following Quibi’s decision last October to shut down after failing to attract a sustainable base of subscribers, Roku acquired Quibi Holdings LLC, the company that holds all of Quibi’s content distribution rights.
Financial terms of the pact were not disclosed. A source familiar with the agreement said Roku is paying “significantly” less than $100 million for the Quibi library, confirming an earlier Wall Street Journal report. Rob Holmes, Roku’s VP of programming, said in an interview, “We do think this deal represents a great value.”
“Fundamentally, we think that Quibi has created great, high-quality content,” Holmes told Variety. “It’s a great value proposition for our users… We’re pivoting from Quibi’s SVOD model to an ad-supported model,...
- 1/8/2021
- by Todd Spangler
- Variety Film + TV
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