Roku Acquires Rights to Quibi Content for Less Than $100 Million

Roku has reached an agreement to acquire the rights to content from the now-defunct video streaming service Quibi (via The Wall Street Journal).

quibi

Roku reportedly paid less than $100 million to acquire the rights to Quibi's library of original content until 2022.

Quibi was a short-form video subscription service launched in April of last year. Executives believed that the service would be able to garner approximately 7.4 million subscribers during its first year, but it massively fell short with an estimated 400,000 to 500,000 subscribers. After courting a number of tech companies, including Apple, to see if it could be sold off, the service announced that it was shutting down in October 2020.

Roku is the biggest streaming media player in the United States, with a library of more than 40,000 movies and TV shows, and the acquisition of Quibi's content will offer a boost of more than 75 shows and documentaries.

Quibi's content will also be among the minority of exclusives on the platform, as the majority of Roku's programming is also viewable elsewhere. The acquisition is expected to give Roku more leverage in negotiations with advertisers, who may pay more to show their ads alongside shows that viewers are unable to see elsewhere.

Tags: Roku, Quibi

Top Rated Comments

tsa1 Avatar
25 months ago
They over paid lol
Score: 8 Votes (Like | Disagree)
doboy Avatar
25 months ago
Flushing money down the drain.
Score: 6 Votes (Like | Disagree)
calstanford Avatar
25 months ago
What an incredible waste of money. No one watched the stuff before, no one will watch the same old stuff now
Score: 5 Votes (Like | Disagree)
scottct1 Avatar
25 months ago
I didn't watch their content when I had a free account from T Mobile, why do they think I am going to watch now?
Score: 3 Votes (Like | Disagree)
sw1tcher Avatar
25 months ago

Mindshare is different than market share, though. If I hear about a new hit streaming show, it’s on Disney+, Hulu, Netflix, Peacock, or AppleTV+. I’ve never once heard someone talk about some new show they’re getting into where they say, “Oh, it’s on The Roku Channel”. (Actually, this is the first I’m hearing of The Roku Channel.) While there do seem to be viewers for Roku’s service, they don’t seem to have the same name recognition for original content as the major streaming services.
The reason you've never heard anyone talk about a new show on the Roku Channel and "they don’t seem to have the same name recognition for original content as the major streaming services" is because Roku never had their own original content until now.
Score: 2 Votes (Like | Disagree)
sw1tcher Avatar
25 months ago

I kind of fell that Roku paid too much for these shows. Few wanted them when they were on Quibi - why would people want them now that they're elsewhere?

What an incredible waste of money. No one watched the stuff before, no one will watch the same old stuff now

Sounds like alot of money for content that nobody was really interested in.
You have to ask why Quibi failed though.

Was it the content or was it:

- The timing of the launch (April 2020)? That was around the height of the 1st wave of the coronavirus pandemic.

- The name of the service? What's a Quibi?

- The business model? You pay $5 per month to watch a few short videos and you still get served ads? Yes, their business model is similar to Hulu's ad supported version of which 70 percent of their subscribers are on ('https://variety.com/2019/digital/news/hulu-ad-supported-subscribers-70-percent-1203227954/'), but Hulu's got a lot more content (new, old, and originals) and they had 1st mover advantage. And if you took advantage of the Hulu Black Friday promos in 2018 ($$0.99/mo for 1 year), 2019 ($1.99/mo for 1 year), and 2020 ($1.99/mo for 1 year), Quibi is a poor value in comparison.

- Quibi had to acquire new subscribers from scratch and you had to watch the shorts on a small screen vs your big screen TV at home.

I don't believe the problem was the content; Quibi has several good shows ('https://editorial.rottentomatoes.com/guide/best-quibi-shows/').

Quibi managed to acquire "an estimated 400,000 to 500,000 subscribers."

Meanwhile, as of Q3 2020, Roku had 46 million active accounts ('https://ir.roku.com/static-files/2148e434-58e4-48e1-bd1c-926862e3c21b') and their Roku Channel reached 54 million U.S. households.

Roku's going to have a lot more people watching this content now. For Roku, this is an investment in their platform which, for their most recent quarter, grew revenue 78 percent year-over-year.
Score: 2 Votes (Like | Disagree)

Related Stories

disney plus

Disney+ Has 118.1 Million Subscribers Two Years After Launch

Wednesday November 10, 2021 1:34 pm PST by
Disney+ now has more than 118 million global paid subscribers, Disney announced today in its earnings report for the fourth quarter of 2021 [PDF]. The streaming service has gained 2.1 million subscribers in the last quarter, and 44.4 million subscribers over the course of the last 12 months. In November 2020, Disney+ had 73.7 million subscribers, so its growth over the last year has been...
peloton tv workout cardio

Apple Floated as Potential Buyer of Peloton

Friday January 21, 2022 6:11 am PST by
Following months of bleak news about Peloton's "precarious state," including the revelation that it has halted production of its bikes and treadmills, Apple is being floated as a potential buyer of Peloton's troubled fitness business. Yesterday, CNBC reported that Peloton will temporarily stop production of its connected fitness products due to a "significant reduction" in consumer demand, a ...
apple wallet drivers license feature

Apple Highlights Services in 2021, Recaps Upcoming Features Like IDs on iPhone

Monday January 10, 2022 10:00 am PST by
Apple today highlighted the continued growth and expansion of its services in 2021, including the App Store, Apple Music, Apple Maps, Apple Pay, Apple News, Apple Podcasts, Apple Fitness+, Apple TV+, Apple Arcade, and more. "Apple's world-class portfolio of services proved essential in 2021, as people worldwide sought new ways to keep entertained, informed, connected, and inspired," said...
european parliament

EU Provisionally Agrees on Law That Would Force Apple to Allow Alternative App Stores, Sideloading, and iMessage Interoperability

Friday March 25, 2022 4:46 am PDT by
European lawmakers have provisionally agreed upon a new law that would force Apple to allow user access to third-party app stores and permit the sideloading of apps on iPhones and iPads, among other sweeping changes designed to make the digital sector fairer and more competitive. The European Council and European Parliament said on Friday they had reached a political agreement on the...
credit kudos apple

Apple Acquires UK Banking Startup in Potential Hint at International Apple Card Launch

Wednesday March 23, 2022 5:12 am PDT by
Apple has acquired Credit Kudos, a UK open banking startup that seeks to help lenders make better decisions (via The Block). Credit Kudos offers insights and scores based on loan applications drawn from transaction and loan outcome banking data, sourced by the UK's open banking framework. The company's API offers lenders a way to get faster, automated decision-making about loans with reduced ...
stem player kanye west

Kanye West's 'Donda 2' Album Not Coming to Apple Music

Friday February 18, 2022 10:26 am PST by
Kanye West, now known officially as "Ye," does not plan to release his next album, "Donda 2," on streaming services that include Apple Music and Spotify, opting instead for a proprietary platform. Ye said today on Instagram that "Donda 2" will be available only on the Stem Player, a $200 device that was released with the initial "Donda" album pre-installed. The Stem Player is designed to...
maxresdefault

The MacRumors Show: Rene Ritchie Talks Mac Studio Performance and Studio Display Controversy

Friday March 25, 2022 10:18 am PDT by
Acclaimed Apple content creator Rene Ritchie joins us on The MacRumors Show podcast this week to reflect on the all-new Mac Studio and Studio Display now that users have had a chance to spend some time with the machines. Subscribe to the MacRumors YouTube channel for more videos. The eighth episode of The MacRumors Show takes a look at the Mac Studio and Studio Display's real-world...
apple tv plus banner

Apple TV+ Subscribers Who Join for Major Releases Like 'Greyhound' Don't Stick Around

Monday January 31, 2022 1:26 pm PST by
The release of popular Tom Hanks movie "Greyhound" saw a major jump in Apple TV+ subscribers when it launched, but most of those subscribers did not stick around, according to data compiled by subscriber measurement service Antenna and shared by The Wall Street Journal. Apple TV+ saw around 60,000 sign-ups when Greyhound was released on July 10, 2020, with that number not counting those who...

Popular Stories

applefifthavenue

Man Robbed After Buying 300 iPhones From Apple Fifth Avenue

Tuesday November 29, 2022 11:54 am PST by
An unnamed 27-year-old man who purchased 300 iPhones from Apple Fifth Avenue on Monday morning was robbed shortly after leaving the store, according to 1010Wins Radio in New York. He was carrying 300 iPhone 13s in three bags and walking to his car at 1:45 a.m. when another car pulled up next to him. Two men jumped out and demanded that he hand over the bags. Not wanting to hand over 300...
app store awards 2021

Apple Announces 2022 App Store Award Winners, Highlighting Best Apps of the Year

Tuesday November 29, 2022 3:10 am PST by
Apple today announced its 2022 App Store Award winners, highlighting the 16 best apps and games selected by Apple's global App Store editorial team. The top apps were chosen by Apple for their quality, innovative technology, creative design, positive cultural impact, and ability to deliver "exceptional experiences." Apple CEO Tim Cook said: This year's App Store Award winners reimagined...
Cyber Monday Deals Feature 2022

Best Cyber Monday Apple Deals Still Available for AirPods, Apple TV, iPad, and More

Monday November 28, 2022 5:24 am PST by
The Black Friday and Cyber Monday holiday shopping rush is drawing to a close, but there are still some good deals to be had out there. For Apple products, many of the deals you've seen since last week are still available, though some have expired. So for anyone who missed out on Black Friday deals, there's still an opportunity to get some of the year's best prices on many Apple devices. Note: ...
iPhone 14 Pro Rear Camera

iPhone 15 to Use 'State-of-the-Art' Image Sensor From Sony for Better Low-Light Performance

Monday November 28, 2022 11:00 am PST by
Apple's upcoming iPhone 15 models will be equipped with Sony's newest "state of the art" image sensors, according to a report from Nikkei. Compared to standard sensors, Sony's image sensor doubles the saturation signal in each pixel, allowing it to capture more light to cut down on underexposure and overexposure. Nikkei says that it is able to better photograph a person's face even with...
eufy camera

Anker's Eufy Cameras Caught Uploading Content to the Cloud Without User Consent [Updated]

Tuesday November 29, 2022 1:01 pm PST by
Anker's popular Eufy-branded security cameras appear to be sending some data to the cloud, even when cloud storage is disabled and local only storage settings are turned on. The information comes from security consultant Paul Moore, who last week published a video outlining the issue. According to Moore, he purchased a Eufy Doorbell Dual, which was meant to be a device that stored video...
rapid security response

Apple Releases Another Rapid Security Response Update for iOS 16.2 Beta Users

Monday November 28, 2022 10:16 am PST by
Apple today released a Rapid Security Response update that is available for those running the iOS 16.2 beta, marking the launch of the second RSR update since the feature was released in iOS 16. The Rapid Security Response Update is designed to provide iOS 16.2 beta users with bug fixes without the need to install a full update. The initial RSR release for iOS 16.2 beta users was a test with ...
Apple Watch Ultra Oceanic Plus App

Apple Announces Oceanic+ App Now Available for Apple Watch Ultra

Monday November 28, 2022 6:11 am PST by
Apple today announced that the Oceanic+ app is available for the Apple Watch Ultra starting today. Designed by Huish Outdoors in collaboration with Apple, the app serves as a dive computer for recreational scuba diving at depths up to 40 meters/130 feet. Apple already offers a basic Depth app on the Apple Watch Ultra for viewing your current depth, maximum depth reached, water temperature,...
14 vs 16 inch mbp m2 pro and max feature 1

'M2 Max' Geekbench Scores Leak Online, Revealing Rumored Specs and Performance

Wednesday November 30, 2022 2:39 am PST by
Geekbench scores allegedly for the upcoming "M2 Max" chip have surfaced online, offering a closer look at the performance levels and specific details of the forthcoming Apple silicon processor. The Geekbench results, first spotted on Twitter, are for a Mac configuration of with the M2 Max chip, a 12-core CPU, and 96GB of memory. The Mac listed has an identifier "Mac14,6," which could be...
iphone 11 tesla cybertruck close up

Elon Musk Pledges to Build iPhone Rival If Apple Ousts Twitter

Tuesday November 29, 2022 2:48 am PST by
Elon Musk has pledged to offer an "alternative phone" if Apple and Google remove Twitter from their app stores, adding to long-standing rumors about an iPhone rival from Tesla. Modified iPhone 11 Pro in the style of the Tesla Cybertruck, by Caviar. Musk's remark came after being asked about the potential scenario of Twitter being removed from app stores, which could conceivably happen if the...
iOS 16

Apple Releases iOS 16.1.2 With Carrier Improvements and Crash Detection Optimizations

Wednesday November 30, 2022 10:09 am PST by
Apple today released iOS 16.1.2, another minor bug fix update that comes one week after the release of iOS 16.1.1 and three weeks after the launch of iOS 16.1, an update that added support for iCloud Shared Photo Library, Matter, Live Activities, and more. The iOS 16.1.2 update can be downloaded on eligible iPhones over-the-air by going to Settings > General > Software Update. According...