Roku to Acquire Quibi’s Global Content Distribution Rights | Financial Buzz

Roku to Acquire Quibi’s Global Content Distribution Rights

Roku, Inc. (NASDAQ: ROKU) reported that The Roku Channel will become exclusive streaming place of over 75 premium shows and documentaries that Quibi created with Hollywood’s studios and production companies.  Roku has acquired the exclusive global distribution rights to Quibi’s award winning shows and plans to make the content available for free on an ad supported basis in 2021 to all Roku users.  The Quibi content includes reality shows and documentaries that feature stars such as Kevin Heart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Idris Elba, etc.  The Roku Channel houses free, premium news and entertainment.  In Q4 2020, it has reached an estimated 61.8 Million people within the United States. 

“The Roku Channel is one of the largest and fastest growing channels on our platform today and we are consistently expanding the breadth and quality of our free, ad-supported content for our users,” said Rob Holmes, Vice President of Programming at Roku. “Today’s announcement marks a rare opportunity to acquire compelling new original programming that features some of the biggest names in entertainment. We’re excited to make this content available for free to our users in The Roku Channel through an ad-supported model. We are also thrilled to welcome the incredible studios and talented individuals who brought these stories to life and showcase them to our tens of millions of viewers.”

“The most creative and imaginative minds in Hollywood created groundbreaking content for Quibi that exceeded our expectations,” said Quibi Founder Jeffrey Katzenberg. “We are thrilled that these stories, from the surreal to the sublime, have found a new home on The Roku Channel.”

“Quibi championed some of the most original ideas and inventive storytelling, and I’m so proud of what I was able to create for the platform,” said Veena Sud, creator, writer, director and executive producer of the popular Quibi series The Stranger. “I’m so excited to now be able to share this thriller with millions of streamers on The Roku Channel.” 

Financial Terms of the transaction were not disclosed.