Roku announced on Friday that it has acquired Quibi’s content library almost three months after the short video streaming service shut down.
The companies have not disclosed the financial terms of the deal.
Roku will make the Quibi content available for free with ads to all Roku users starting this year. In addition to the content that has already aired on Quibi, Roku has the rights to stream the company’s more than a dozen non-broadcast programs. Roku’s own streaming app offers a lot of free content to stream, supported by ads, a growing part of the company’s business outside of hardware device sales.
Quibi failed to gain traction when it launched early last year. The company, which closed in October, pointed to a convergence of factors leading to the failure. Roku, meanwhile, has experienced rapid growth during the Covid-19 pandemic. The company said it doubled the reach of households year by year in the fourth quarter of 2020.
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