Roku Adds Quibi’s Library of Content to Its Streaming Platform
Roku, one of the leading streaming platforms in the lrtrading United States, has announced the addition of Quibi’s library of content to its platform. This comes after Quibi, a short-form streaming service, was shut down in late 2020, just months after its launch. Quibi had raised over $1.7 billion in funding, but failed to gain a substantial audience.
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Quibi’s content library includes over 75 original shows, as well as documentaries and news programming. The shows were designed to be watched on mobile devices, with episodes running between 7 and 10 minutes in length. The service had attracted big names such as Chrissy Teigen, LeBron James, and Jennifer Lopez to produce and star in its content.
Roku will now make the Quibi content available to its ifsptv users for free on the Roku Channel, its ad-supported streaming service. This will allow viewers to access the content without having to pay a subscription fee, unlike when Quibi was a standalone service. This move by Roku is expected to give the content a second chance at finding an audience, as it will now be available on a more established and widely-used platform.
The deal between Roku and Quibi was reportedly giveme5 worth less than $100 million, a fraction of the $1.7 billion that Quibi had raised from investors. The deal was beneficial for Roku, as it allowed the platform to add a large library of content to its service without having to produce it themselves. For Quibi, the deal allowed the company to recoup some of the money that it had invested in producing the content.
This move by Roku is part of the platform’s strategy to expand its library of content and compete with other streaming services such as Netflix and Amazon Prime Video. The addition of Quibi’s library follows other recent additions, such as the acquisition of the content from the now-defunct streaming service, FuboTV.
However, some industry experts have expressed skepticism about whether Quibi’s content will find an audience on the Roku Channel. Quibi had struggled to gain a foothold in the crowded streaming market, and its content was designed to be consumed in short bursts on mobile devices. It remains to be seen whether viewers will be willing to watch the content on a larger screen for longer periods of time.
Despite this, Roku’s CEO, Anthony Wood, 123chill expressed optimism about the addition of Quibi’s content to the platform. In a statement, he said, “We are thrilled to introduce this award-winning and diverse slate of entertainment to the millions of viewers who enjoy The Roku Channel.”
The addition of Quibi’s content to the Roku Channel also comes at a time when the platform is experiencing rapid growth. In 2020, the platform added 14 million new accounts, bringing its total number of active accounts to 51.2 million. This growth was fueled by the COVID-19 pandemic, as more people turned to streaming services for entertainment during lockdowns.
In conclusion, the addition of Quibi’s library of content to the Roku Channel is a manytoons significant move for both companies. For Roku, it allows the platform to expand its library of content and compete with other streaming services. For Quibi, it provides an opportunity to recoup some of the money it invested in producing the content and potentially find a new audience. However, it remains to be seen whether viewers will be interested in watching the short-form content on a larger screen for longer periods of time.