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Quibi Comes To A Close

Quibi

The Quibi saga appears to be over.

Roku, maker of the most popular streaming device in the U.S., is acquiring the rights to all content from the defunct short-form streaming service.

Jeffrey Katzenberg and Meg Whitman raised $1.75 billion to develop mobile-first shows before launching Quibi last April. For a variety of reasons, including an ill-fated on-the-go approach during the pandemic, the $4.99 per month service never gained traction. 

The company announced in October that it was shutting down. 

Terms of The Deal:

  • Roku paid less than $100 million to acquire Quibi’s content, The Wall Street Journal reported.  
  • All of Quibi’s 75-plus shows are exclusive to the free-to-watch Roku Channel through 2021, with Roku retaining rights to air the content through 2027.
  • Roku must air Quibi’s shows in their original bite-sized format; it cannot string together multiple episodes for longer segments. 

In addition to shows featuring big stars like Will Smith and Chrissy Teigen, Quibi offered a lineup of sports content, including the LeBron James-produced “I Promise,” Steph Curry-produced “Benedict Men” and Megan Rapinoe-hosted “Prodigy.”

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