Quibi famously took off and died last year. After spending more than $ 1 billion on the first year of content, it climbed to the top. But surprisingly, Quibi has found a buyer for its content, which is Roku.
Roku has it Acquired The entire Quibi content library. They’ll all appear on the free Roku channel sometime in 2021. Neither company has announced when this will happen, except for a pint this year. Roku has also not disclosed how much it paid for the content. But according to the Wall Street Journal, Rocco paid “much less” than $ 100 million for these shows. This is a huge loss for Quibi, after spending a billion dollars on it.
Quibi launched at the worst time imaginable. Not because it was a streaming service – we saw HBO MAX, Peacock and discovery + all recently launched with decent success. But because it was a live streaming service via mobile phone. With content shooting in portrait and short form. All episodes lasted ten minutes or less. It was launched at a time when everyone was stuck at home during the pandemic.
Why did Roku buy Quibi?
The big question here is why? Why did Roku buy the Quibi content library? Then he agreed to give it all for free.
It is very simple indeed. Roku is trying to use its Roku Channel as a differentiator towards its competitors. To get people to use Roku via Android TV, Fire TV, or even Apple TV. And by adding more content to your Roku channel, you’ll have a greater reason to watch it.
This will increase watch time on your Roku channel, as well as increase the amount of ad inventory that Roku can sell. Which will help Roku. Since it basically sells all of its machines at cost or cost price. And it gives Roku some original content, kind of.
The real question now is whether Roku will continue producing all of these Quibi shows. As the beginning is a fully studded library. With actors like Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen, Lena Waithe, among others.