time to read 1 minutes

Roku to bag Quibi’s content catalogueINTL

Roku to bag Quibi’s content catalogue

Roku is in talks to buy the content catalog of Quibi, a short-form video streaming service that was founded by movie industry veteran Jeffrey Katzenberg just last year. According to a Wall Street Journal report, which did not point to a potential deal price, the acquisition could give the Roku Channel exclusive access to Quibi’s content library.

Quibi never really gained traction since its hyped launch last April, even though Katzenberg raised nearly $2 billion before its release. The platform announced it was winding down its operations just six months later, but it appears that Roku, which sells the most popular streaming device in America, is down to offering Quibi’s shows a second chance. Some of Quibi’s shows featured major Hollywood A-listers such as ‘Game of Thrones’ star Sophie Turner, ‘Pitch Perfect’ actress Anna Kendrick and Liam Hemsworth (who wouldn’t want to tune in to watch a Hemsworth brother on screen?).

why it matters
While Roku may have a good grip of the market due to the popularity of its streaming media player, this deal with Quibi would give them a whole catalog of exclusive programming to broadcast on its own free app, the Roku Channel, and a shot at building their own content base. It is not certain that the two parties will achieve a deal, but Roku’s shares were already up 2.7% in the premarket following the news.